Based on the regression output shown below, which of the following statements is true?
The regression equation is
Price (cents) = 128 + 1.08 Time
Predictor Coef SE Coef T P
Constant 128.112 2.092 61.25 0.000
Time 1.0782 0.1407 7.66 0.000
S = 5.07299 R-Sq = 71.9%
Durbin-Watson statistic = 0.244822
A) The regression slope is significantly different from zero.
B) The model explains 71.9% of the variability in heating oil prices.
C) The linear model is appropriate.
D) Both A and B.
E) All of the above.

Question

Quizplus · Accepted Answer

A) The t-test for the slope coefficient has a p-value less than 0.05, indicating that the regression slope is significantly different from zero.
B) The R-squared value of 71.9% indicates that the model explains about 71.9% of the variability in heating oil prices.
C) There is no information provided to determine the appropriateness of the linear model.

Based on the Regression Output Shown Below, Which of the Following