A regression was performed on a sample of 20 observations. Two independent variables were included in the analysis, x and z. The relationship between x and z is z = x2. The following estimated equation was obtained. 
= 23.72 + 12.61x + 0.798z
The standard errors for the coefficients are Sb1 = 4.85 and Sb2 = 0.21
For this model, SSR = 520.2 and SSE = 340.6
a.Estimate the value of y when x = 5.
b.Compute the appropriate t ratios.
c.Test for the significance of the coefficients at the 5% level. Which variable(s) is (are) significant?
d.Compute the coefficient of determination and the adjusted coefficient of determination. Interpret the meaning of the coefficient of determination.
e.Test the significance of the relationship among the variables at the 5% level of significance.
Definitions:
Consumption
Consumption refers to the use of goods and services by households. It is a primary component of the economy, encompassing the spending on goods and services by consumers.
Income
Money received, especially on a regular basis, for work or through investments.
Income Effect
The change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.
Money Income
The total income in the form of money received by an individual or household before taxes from all sources in a given time period.
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