Answered step by step
Verified Expert Solution
Question
1 Approved Answer
An independent researcher wants to investigate if the factors which determine the house rent (Y, measured in dollars), such as the distance of the house
An independent researcher wants to investigate if the factors which determine the house rent (Y, measured in dollars), such as the distance of the house from the airport (X, ), the time since the house was built (X2), are significant or not. He collects data from 280 prospective locations and estimates the following regression equation: Y; = 2.5 - 1.23X1 + 0.98X2. (1.25) (1.84) The 95% confidence interval for the slope coefficient B1, keeping the other variables constant will be ( - 3.69 , 1.23 ). (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) Based on the calculated confidence intervals, we can say that at the 5% significance level, we will fail to reject the hypothesis B1 = 0. The 99% confidence interval for the slope coefficient 2, keeping the other variables constant will be ( (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) Based on the calculated confidence intervals, we can say that at the 1% significance level, we will the hypothesis B2 = 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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
Get Started