Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

reproduced below An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic product ($ billions)

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

reproduced below An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic product ($ billions) and aggregate price (consumer price index). The Microsoft Excel output of this regression is partially Click the icon to view the results. One economy in the sample hat an aggregate consumption level of $4 billion, a GDP of $6 billion, and an aggregate price level of 200. What is the residual for this data point? OA -$0.39 billion OB. $4.39 billion OC -$1.33 bo OD, $0.30 bon Output SUMMARY OUTPUT Regression Statistics Multiple R 0.991 Square 0982 Adjusted R Square 0.976 Standard Enor 0.299 Observations 10 ANOVA ss MS Regression Residual 2 33.4163 7 Total 9 0.6277 34.0440 167062 186.325 00897 Sign 0.0001 Coeff Sidor P Intercept -0.0861 0.3674 -0.152 08837 GDP 0.7654 0.0574 13.340 0.0001 Price 0.0006 0.0028 -0.219 0.8330 X #9

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Government and Not for Profit Accounting Concepts and Practices

Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith

7th edition

1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270

More Books

Students also viewed these Accounting questions