Assume You Ran a Multiple Regression to Gain a Better

Essay

Assume you ran a multiple regression to gain a better understanding of the relationship between lumber sales,housing starts,and commercial construction.The regression uses Lumber Sales (in $100,000s)as the response variable with Housing Starts (in 1,000s)and Commercial Construction (in 1,000s)as the explanatory variables.The results of the regression are as follows: a.At the 5% significance level,are the explanatory variables jointly significant in explaining Lumber Sales? Explain.
b.At the 5% significance level,is Commercial Construction significant in explaining Lumber Sales? Explain.
c.At the 5% significance level,can you conclude that the slope coefficient attached to Housing Starts differs from 1? Explain.