(A)Estimate the Regression Model

question 26

Essay

(A)Estimate the regression model.How well does this model fit the given data?
(B)Yes,there is a linear relationship between the number of carpet installations and the number of building permits issued at a = 0.10; The p-value = 0.0866 for the F-statistic.You can conclude that there is a significant linear relationship between these two variables.
(C)The Durbin-Watson statistic for this data was 1.2183.Given this information what would you conclude about the data?
(D)Given your answer in (C),would you recommend modifying the original regression model? If so,how would you modify it?

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Definitions:

Few Competitors

A market situation characterized by a limited number of businesses or entities providing similar products or services, often leading to less competition.

Huge Investment

The allocation of a significant amount of capital or resources into a project, asset, or venture expecting future gain.

Oligopoly

A market structure characterized by a small number of firms controlling a large majority of the market share, often leading to limited competition.

Structural Unemployment

People who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones.