In a Cross Section Regression of 48 States,the Following Linear

question 27

Multiple Choice

In a cross section regression of 48 states,the following linear demand for per-capita cans of soda was found: Cans = 159.17 - 102.56 Price + 1.00 Income + 3.94Temp $$\begin{array} { l r r r } \hline & \text { Coeffcients}& \text { Standard Error } & t \text { Stat } \\\hline \text { Intercept } & 159.17 & 94.16 & 1.69 \\\text {Price } & - 102.56 & 33.25 & - 3.08 \\\text { Income } & 1.00 & 1.77 & 0.57 \\\text { Temperature } & 3.94 & 0.82 & 4.83 \\\hline\end{array}$$
$\mathrm { R } - \mathrm { Sq } = 54.1 \% \quad \mathrm { R } - \mathrm { Sq } ( \mathrm { adj } ) = 51.0 \%$
From the linear regression results in the cans case above, we know that:

• A) Price is insignificant
• B) Income is significant
• C) Temp is significant
• D) As price rises for soda,people tend to drink less of it
• E) All of the coefficients are significant

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Definitions:

Diagnostic Approach

A method of identifying problems or challenges through analysis and investigation, with the goal of determining the best strategies for addressing or resolving these issues.

Job Satisfaction

The level of fulfillment, contentment, and happiness a person feels about their job, including aspects like work environment, duties, and rewards.

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Experienced Meaningfulness

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