An Analyst Examines the Effect That Various Variables Have on Crop

question 53

Essay

An analyst examines the effect that various variables have on crop yield.He estimates y = β₀ + β₁x₁ + β₂x₂ + β₃x₃ + ε.where y is the average yield in bushels per acre,x₁ is the amount of summer rainfall,x₂ is the average daily use in machine hours of tractors on the farm,and x₃ is the amount of fertilizer used per acre.The results of the regression are as follows: a.At the 10% significance level,are the explanatory variables jointly significant in explaining crop yield? Explain.
b.At the 10% significance level,is fertilizer significant in explaining crop yield? Explain.
c.At the 10% significance level,can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

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