A Sociologist Wishes to Study the Relationship Between Happiness and Age.He

question 4

Multiple Choice

A sociologist wishes to study the relationship between happiness and age.He interviews 24 individuals and collects data on age and happiness,measured on a scale from 0 to 100.He estimates the following model: Happiness = β₀ + β₁Age + ε.The following table summarizes a portion of the regression results. At the 1% significance level,which of the following is the correct confidence interval of the regression coefficient β₁?

• A) [0.0390,0.0530]
• B) [0.0190,0.5300]
• C) [0.0190,0,0530]
• D) [0.0390,0.5300]

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Definitions:

Time-Series Analysis

A statistical method that analyzes a sequence of data points, typically measured at successive times, to forecast future trends.

Product Differentiation

A marketing strategy where a company attempts to make its product appear unique from competitors' offerings in the eyes of consumers.

Customer Service

Activities and services provided by a company to support and enhance the satisfaction of its customers.

Competitive Prices

Pricing strategy that involves setting prices at the same level or slightly lower than competitors to attract customers.