A Researcher Analyzes the Factors That May Influence Amusement Park

question 28

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. When testing whether the explanatory variables Temperature and Rides are jointly significant,the p-value associated with the test is 0.0000.At the 1% significance level,the researcher ________________________________________________________________________________.

• A) rejects H₀,and concludes that at least one of the explanatory variables,Temperature and Rides,is significant in explaining Attendance
• B) does not reject H₀,and concludes that at least one of the explanatory variables,Temperature and Rides,is significant in explaining Attendance
• C) rejects H₀,and concludes that neither of the explanatory variables,Temperature and Rides,is significant in explaining Attendance
• D) does not reject H₀,and concludes that neither of the explanatory variables,Temperature and Rides,is significant in explaining Attendance

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Definitions:

Chunking

The formation of individual units of information into larger units. This is often used as a means of overcoming short-term memory limitations.

Conceptually Similar

Pertains to ideas or concepts that have a likeness or resemblance in nature or character.

Long-Term Memory

A type of memory responsible for the storage of information over an extended period, from minutes to lifetimes.

Emotional Memory

The aspect of memory that involves the recollection of emotional experiences or the feelings associated with past events.