A researcher is interested in nding out the factors which determined the yearly spending on family outings last year (Y, measured in dollars). She compiles
A researcher is interested in nding out the factors which determined the yearly spending on family outings last year (Y, measured in dollars). She compiles data on the number of members in a family (X1 ), the annual income of the family (X2). and the number of times the family went out on an outing in the last year (X3). She collects data from 152 families and estimates the following regression: A Y: 146.34 +1.54X1 +1.05X2 + 2.12X3. Suppose 1 , z, 1%, denote the population slope coefcients of X1 , X2, and X3, respectively. The researcher wants to check if neither X1 nor X2 have a signicant effect on Yor at least one of them has a signicant effect, keeping X3 constant. She calculates the value of the F-statistic for the test with the two restrictions (H0: [i1 = U, [32 = 0 vs. H1551 0 and/or2 i O) to be 2.30. The pvalue for the test will be (Round your answer to two decimal places.) At the 1% signicance level, we will fail to reject the null hypothesis
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance