Use the accompanying regression table to answer the following questions Complete

Question

Use the accompanying regression table to answer the following questions Complete parts (a) through (c).Click to view the data table. A. 0.0008/0.071 151.851/0.007763 E. 0.0008/0.0048 b) How many weeks are included in this regression? How can you tell? A. 77 weeks are included because the degrees of freedom is 74, and that's equal to (number of cases) - (number of predictor variables) B. 78 weeks are included, since the degrees of freedom is 74, and that's equal to (number of cases) - (number of predictor variables) -1. C. 74 weeks are included because the degrees of freedom is 74. D. 75 weeks are included because the degrees of freedom is 74, and that's equal to (number of cases) -1. c) The t-ratio for the intercept is negative What does that mean? A. The t-ratio is negative because as number of shows increases, the average ticket price goes down. B. The t-ratio is negative because as the average goes down, the average ticket price increases. C. The t-ratio is negative because the coefficient is negative. D. The t-raw is negative because as the attendance goes down, the average ticket price increases. Data were gathered from ticket sales of musical shows in a particular city for most weeks of a recent time period (A few weeks are missing data) The variables are Receipts (exist million) Paid Attendance (thousands), # Shows and Average Ticket Price (exist). Dependent vane We is Receipts (existM) R squared = 99.9% R squared (adjusted) = 99.9% s= 0.0881 with 74 degrees of freedom.

Explanation / Answer

a)

The t-ratio for Paid attendance is computed using the formula (Coefficient of Paid attendance) / (Standard error of coefficient of paid attendance)= 0.071/0.008= 88.8

Hence option B is correct.

b)

We know that the residual degress of freedom equals to (n-k), so in this question 77 weeks are included, because degrees of freedom is (number of cases)-(number of predictor variables).

Hence option A is correct.

c)

We know that a negative coefficient of an independent variable means that as the values of that independent variables increases, the value of the dependent variables decreases.

In this case t-ratio for the intercept is negative because because the value of the coefficient is negative.

Hence option C is correct.

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