A Researcher Analyzes the Factors That May Influence Amusement Park

question 91

Multiple Choice

A researcher analyzes the factors that may influence amusement park attendance.She estimates the following model: Attendance = β₀ + β₁ Price + β₂ Temperature + β₃ Rides + ε,whereAttendance is the daily attendance (in 1,000s) ,Price is the gate price (in $) ,Temperature is the average daily temperature (in ^oF) ,and Rides is the number of rides at the amusement park.A portion of the regression results is shown in the accompanying table. Which of the following is the value of the test statistic for testing the joint significance of the linear regression model?

• A) −4.09
• B) 0.04
• C) 9.95
• D) 99.78

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Definitions:

Commission Rate

The percentage of a sale price that is paid to the salesperson as a reward for making the sale or dealing.

Freight

Goods transported in bulk by truck, train, ship, or airplane.

Net Proceeds

The amount of money received from a transaction after all costs and expenses have been paid.

Commission

A fee paid for services, usually a percentage of the total transaction, often used as a compensation method in sales and services industries.