Using the output below, is the model significant at the 1% level? SUMMARY OUTPUT

Question

Using the output below, is the model significant at the 1% level?

SUMMARY OUTPUT    

Regression Statistics    

Multiple R 0.9880    

R Square 0.9762    

Adjusted R Square 0.9738    

Standard Error 868.4866    

Observations 12    

                                                  Coefficients         Standard error            P-value

Intercept                                            759.57               2.991435587            .2217390932

Monthly Advertising Expenses          1.91                0.482113498             .0000000019

Explanation / Answer

we need to see the p-value and compare with our significant level of 1% = 0.01

if p-value is greater than 0.01 then the model is significant

if p-value is lower than 0.01 then the model is not significant

we have that p - value = 0.00000000019 then is lower than 0.01

we conclude that the model is not significant

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