1) The P value for the regression model as a whole is A)0.01 B)0.05 C)0.001 D) n
ID: 3376555 • Letter: 1
Question
1) The P value for the regression model as a whole isA)0.01 B)0.05 C)0.001 D) none of the above
2) what is the predicted consumption level for an economy with the GDP equal to 4 billion and an aggregate price index of 150?
A)1.39 billion B)9.45 billion C)2.89 billion D)4.75 billion
3) The P value for GDP is
A)0.01 B)0.001 C)0.05 D) None of the above
4) when the economist used a simple linear regression model with consumption as the dependent variable and GDP as the independent variable he obtained and r2 value of 0.971. What additional percentage of the total variation of consumption has been explained by including aggregate prices in the multiple regression?
A)98.2 B)2.8 C)11.1 D)1.1
5) to test for the significance of the coefficient on aggregate price index, the value of the relevant T statistic is
A)-1.969 B)0.143 C)2.365 D)-0.219 SCENARIO 13-3 An economist is interested to sce how consumption for an cconomy (in S billions) is influenced by gross domestic product (S billions) and aguregate price (corsumer price index). The Microsoft Excel output of this regression is partially reproduced below SUMMARY OUTPUT Regression Statisties 0991 0982 Multiple R R Square Adjusted R Square Standard Observata 0976 0 299 10 ANOVA Signi 33 4163 16 7082 186 325 o0oi MS Regression Residual Total 06277 9340440 00897 Coefl Intercept -00861 05674 -0152 0057413 340 0 219 GDP Phoc 02654 0.0006 0 8837 OmOL 0.8330 0.0028
Explanation / Answer
Result:
1) The P value for the regression model as a whole is
A)0.01
B)0.05
C)0.001
Answer: D) none of the above
P value is 0.0001
2) what is the predicted consumption level for an economy with the GDP equal to 4 billion and an aggregate price index of 150?
Predicted = -0.0861+0.7654*4-0.0006*150 = 2.8855
A)1.39 billion
B)9.45 billion
Answer: C)2.89 billion
D)4.75 billion
3) The P value for GDP is
A)0.01
B)0.001
C)0.05
Answer: D) None of the above
P value is 0.0001
4) when the economist used a simple linear regression model with consumption as the dependent variable and GDP as the independent variable he obtained and r2 value of 0.971. What additional percentage of the total variation of consumption has been explained by including aggregate prices in the multiple regression?
The change in R square , 0.982-0.971 =0.011 or 1.1%
A)98.2
B)2.8
C)11.1
Answer: D)1.1
5) to test for the significance of the coefficient on aggregate price index, the value of the relevant T statistic is
A)-1.969
B)0.143
C)2.365
Answer: D)-0.219
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