Question
On a sample of n=7 observations, I estimate a regression of the gallons of paint sold on the price of each gallon and find
On a sample of n=7 observations, I estimate a regression of the gallons of paint sold on the price of each gallon and find the following estimated regression line: y = 268.7-18.217x. (100) (9.1) Here we use standard notation and report the standard errors of the coefficients in the parentheses. a. The t statistic testing the "significance" of the slope coefficient B is b. The t critical value for this 2-sided test is +/- b. Is the slope coefficient statistically significant at a=5%? Yes=1 and No = 0. The answer is c. Now predict how many gallons would be sold if the price is $7 per gallon? . (Include negative signs if negative.)
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Applied Regression Analysis And Other Multivariable Methods
Authors: David G. Kleinbaum, Lawrence L. Kupper, Azhar Nizam, Eli S. Rosenberg
5th Edition
1285051084, 978-1285963754, 128596375X, 978-1285051086
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