Refer to the Portion of Regression Results in the Accompanying

question 94

Multiple Choice

Refer to the portion of regression results in the accompanying table. When testing the overall significance of the regression model at the 5% level given a critical value of F_{0.05, (2,20)} = 3.49,the decision is to _______________________________________________________.

• A) reject H₀ and conclude that the explanatory variables are jointly significant
• B) not reject H₀ and conclude that the explanatory variables are jointly significant
• C) reject H₀ and conclude that the explanatory variables are not jointly significant
• D) not reject H₀ and conclude that the explanatory variables are not jointly significant

---

Definitions:

Conjunction Fallacy

A logical fallacy that occurs when people assume that specific conditions are more probable than a single general one.

Base Rate Fallacy

A cognitive error where people wrongly judge the likelihood of a situation by ignoring general statistical information and focusing on specific information.

Gambler's Fallacy

The erroneous belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa.

Overestimation Fallacy

The cognitive bias of overestimating one's own abilities, performance, level of control, or chances of success.