The regression analysis below relates the value of new car sales (in millions of

Question

The regression analysis below relates the value of new car sales (in millions of dollars) and the independent variables "compensation" (in billions of dollars) and "employment level in the non-agricultural sector" (in thousands) for 44 consecutive quarters. The coefficient for employment level, 0.21, describes the behavior of car sales as the employments level changes, controlling for compensation. the behavior of the employment level as car sales change, not controlling for compensation. Othe behavior of car sales as the employment level changes, not controlling for compensation Othe behavior of the employment level as car sales change, controlling for compensation. Seasonally Adjusted Quarterly Car Sales vs. Compensation and Employment Level Regression Statistics Multiple R Adjusted R Standard Error Observations 0.9559 0.9137 0.9094 6,139.6071 F te 216.92 Coefficients Std Error t s

Explanation / Answer

The coeffcient of employment level 0.21 shows that for each unit increase in employment level car sales increased by 0.21 units keeping compensation constant.

Hence, correct option is first.

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