63 A researcher analyzes the factors that may influence amusement park attendanc
ID: 3368892 • Letter: 6
Question
63 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 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.
df
SS
MS
F
Significance F
Regression
3
29,524.41
9,841.47
2.18E-14
Residual
26
2,564.37
98.63
Total
29
32,088.78
Coefficients
Standard Error
t-stat
p-value
Lower 95%
Upper 95%
Intercept
27.328
40.254
0.5032
?55.415
110.071
Price
?1.201
0.294
0.0004
?1.805
?0.598
Temperature
0.008
0.208
0.9693
?0.419
0.435
Rides
3.621
0.364
2.32E-10
2.874
4.369
When testing whether the explanatory variables are jointly significant at the 5% significance level, the researcher ______________________________________________________________________.
rejects H0, and concludes that the explanatory variables are jointly significant
does not reject H0, and concludes that the explanatory variables are jointly significant
rejects H0, and concludes that the explanatory variables are not jointly significant
does not reject H0, and concludes that the explanatory variables are not jointly significant
df
SS
MS
F
Significance F
Regression
3
29,524.41
9,841.47
2.18E-14
Residual
26
2,564.37
98.63
Total
29
32,088.78
Coefficients
Standard Error
t-stat
p-value
Lower 95%
Upper 95%
Intercept
27.328
40.254
0.5032
?55.415
110.071
Price
?1.201
0.294
0.0004
?1.805
?0.598
Temperature
0.008
0.208
0.9693
?0.419
0.435
Rides
3.621
0.364
2.32E-10
2.874
4.369
Explanation / Answer
Sol:
F=MS regresssion/MS residual
=9,841.47/98.63
=99.78171
p=2.18*10^-14
that is
p=0.0000
alpha=significance level =5%=0.05
p<0.05
Reject Null hypothesis.
and conclude that price,temperature ,rides are jointly significant.
rejects H0, and concludes that the explanatory variables are jointly significant
OPTION A
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