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A real estate analyst believes that the three main factors that influence an apartment's rent in a college town are the number of bedrooms,the number of bathrooms,and the apartment's square footage.For 40 apartments,she collects data on the rent (y,in $) ,the number of bedrooms (x1) ,the number of bathrooms (x2) ,and its square footage (x3) .She estimates the following model: Rent = β0 + β1 Bedroom + β2 Bath + β3Sqft + ε.The following table shows a portion of the regression results. Which of the following are the hypotheses to test if the explanatory variables Bath and Sqft are jointly significant in explaining Rent?
Raw Materials
Basic materials and substances used in the initial stages of production to create finished goods.
Job Order Cost System
An accounting system that assigns costs to specific production batches or jobs, useful for companies producing unique or custom products.
Process Cost System
A method of accounting used in manufacturing where costs are assigned to products based on the processes they undergo.
Fringe Benefits
Additional compensations given to employees beyond their regular salary or wages, such as health insurance, retirement plans, or company cars.
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