Use the following scenario and Excel output to answer questions (1) through (3):

Question

Use the following scenario and Excel output to answer questions (1) through (3):

A researcher analyzes the factors that may influence amusement park attendance. She estimates the following model: Attendance = ?0 + ?1Price + ?2Temperature + ?3Rides + ?, where Attendance is the daily attendance (in 1000s), 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. The following table summarizes a portion of the regression results:

1.

Which of the following is the value of the test statistic for testing the joint (overall) significance of the linear regression model?

            a). -4.09

            b). .04

            c). 9.95

d). 99.78

2.

When testing whether the explanatory variables are jointly significant at the 5% level, the researcher

            a). Does not reject H0, and concludes that the explanatory variables are jointly significant.

            b). Rejects H0, and concludes at least one of the explanatory variables is significant.

  c). Rejects H0, and concludes at least one of the explanatory variables is not significant.

            d). Does not reject H0, and concludes that the explanatory variables are not jointly significant.

3.

What is the partial F-test statistic for Rides, assuming Temperature and Price are already included in the model?

a). 16.69

            b). 98.96

            c). 99.78

            d). Cannot be determined.

ANOVA MS Significance F 2.18E-14 Regression Residual Total 2564.37 2932088.78 3 29524.41 9841.47 98.63 26 Standard Error Lower 95% 0.5032-55.415 110.071 Upper 95% Coefficients 27.328 1.201 0.008 3.621 t Stat -value Intercept Price Temperature Rides 40.254 0.294 0.208 0.364 0.0004 0.9693 2.32E-10 1.805 -0.598 0.419 0.435 2.8744.369

Explanation / Answer

1. F=MSR/MSE=9841.47/98.63=99.78 (d)

2. The p value corresponding to F test statistic is less than 0.05. Therefore, reject H0 to ocnclude that at least on eof the explanatory variable is different. (b)

3. Cannot be determined.

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