Solved

A Regression Model Between Sales (Y in $1000), Unit Price y^\hat { y }

Question 51

Multiple Choice

A regression model between sales (y in $1000) , unit price (x1 in dollars) , and television advertisement (x2 in dollars) resulted in the following function:
y^\hat { y } = 7 - 3x1 + 5x2
For this model, SSR = 3500, SSE = 1500, and the sample size is 18.To test for the significance of the model, the p-value is


A) less than .01.
B) between .01 and .025.
C) between .025 and .05.
D) greater than .10.

Correct Answer:

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