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THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

Question 1

Multiple Choice

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A real estate broker is interested in identifying the factors that determine the price of a house.She wants to run the following regression: Y = β0 + β1X1 + β2X2 + β3X3 + ε where Y = price of the house in $1,000s,X1 = number of bedrooms,X2 = square footage of living space,and X3 = number of miles from the beach.Taking a sample of 30 houses,the broker runs a multiple regression and gets the following results: THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A real estate broker is interested in identifying the factors that determine the price of a house.She wants to run the following regression: Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + ε where Y = price of the house in $1,000s,X<sub>1</sub> = number of bedrooms,X<sub>2</sub><sub> </sub>= square footage of living space,and X<sub>3</sub><sub> </sub>= number of miles from the beach.Taking a sample of 30 houses,the broker runs a multiple regression and gets the following results: = 123.2 + 4.59x<sub>1</sub> + 0.125x<sub>2</sub> - 6.04x<sub>3</sub>, = 103.2, = 2.13, = 0.062, = 4.17,R<sup>2</sup> = 0.47,and = 0.45 (adjusted) . -What should the null and alternative hypotheses be for β<sub>2</sub>? A) H<sub>0</sub> : β<sub>2</sub><sub> </sub>= 0,<sub> </sub>H<sub>1</sub> :<sub> </sub>β<sub>2</sub> > 0 B) H<sub>0</sub> : β<sub>2</sub><sub> </sub>≠ 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub> = 0 C) H<sub>0</sub> : β<sub>2</sub> > 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub><sub> </sub>< 0 D) H<sub>0</sub> : β<sub>2</sub> = 0,<sub> </sub>H<sub>1</sub><sub> </sub>: β<sub>2</sub><sub> </sub>≠ 0
= 123.2 + 4.59x1 + 0.125x2 - 6.04x3, THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A real estate broker is interested in identifying the factors that determine the price of a house.She wants to run the following regression: Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + ε where Y = price of the house in $1,000s,X<sub>1</sub> = number of bedrooms,X<sub>2</sub><sub> </sub>= square footage of living space,and X<sub>3</sub><sub> </sub>= number of miles from the beach.Taking a sample of 30 houses,the broker runs a multiple regression and gets the following results: = 123.2 + 4.59x<sub>1</sub> + 0.125x<sub>2</sub> - 6.04x<sub>3</sub>, = 103.2, = 2.13, = 0.062, = 4.17,R<sup>2</sup> = 0.47,and = 0.45 (adjusted) . -What should the null and alternative hypotheses be for β<sub>2</sub>? A) H<sub>0</sub> : β<sub>2</sub><sub> </sub>= 0,<sub> </sub>H<sub>1</sub> :<sub> </sub>β<sub>2</sub> > 0 B) H<sub>0</sub> : β<sub>2</sub><sub> </sub>≠ 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub> = 0 C) H<sub>0</sub> : β<sub>2</sub> > 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub><sub> </sub>< 0 D) H<sub>0</sub> : β<sub>2</sub> = 0,<sub> </sub>H<sub>1</sub><sub> </sub>: β<sub>2</sub><sub> </sub>≠ 0
= 103.2, THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A real estate broker is interested in identifying the factors that determine the price of a house.She wants to run the following regression: Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + ε where Y = price of the house in $1,000s,X<sub>1</sub> = number of bedrooms,X<sub>2</sub><sub> </sub>= square footage of living space,and X<sub>3</sub><sub> </sub>= number of miles from the beach.Taking a sample of 30 houses,the broker runs a multiple regression and gets the following results: = 123.2 + 4.59x<sub>1</sub> + 0.125x<sub>2</sub> - 6.04x<sub>3</sub>, = 103.2, = 2.13, = 0.062, = 4.17,R<sup>2</sup> = 0.47,and = 0.45 (adjusted) . -What should the null and alternative hypotheses be for β<sub>2</sub>? A) H<sub>0</sub> : β<sub>2</sub><sub> </sub>= 0,<sub> </sub>H<sub>1</sub> :<sub> </sub>β<sub>2</sub> > 0 B) H<sub>0</sub> : β<sub>2</sub><sub> </sub>≠ 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub> = 0 C) H<sub>0</sub> : β<sub>2</sub> > 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub><sub> </sub>< 0 D) H<sub>0</sub> : β<sub>2</sub> = 0,<sub> </sub>H<sub>1</sub><sub> </sub>: β<sub>2</sub><sub> </sub>≠ 0
= 2.13, THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A real estate broker is interested in identifying the factors that determine the price of a house.She wants to run the following regression: Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + ε where Y = price of the house in $1,000s,X<sub>1</sub> = number of bedrooms,X<sub>2</sub><sub> </sub>= square footage of living space,and X<sub>3</sub><sub> </sub>= number of miles from the beach.Taking a sample of 30 houses,the broker runs a multiple regression and gets the following results: = 123.2 + 4.59x<sub>1</sub> + 0.125x<sub>2</sub> - 6.04x<sub>3</sub>, = 103.2, = 2.13, = 0.062, = 4.17,R<sup>2</sup> = 0.47,and = 0.45 (adjusted) . -What should the null and alternative hypotheses be for β<sub>2</sub>? A) H<sub>0</sub> : β<sub>2</sub><sub> </sub>= 0,<sub> </sub>H<sub>1</sub> :<sub> </sub>β<sub>2</sub> > 0 B) H<sub>0</sub> : β<sub>2</sub><sub> </sub>≠ 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub> = 0 C) H<sub>0</sub> : β<sub>2</sub> > 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub><sub> </sub>< 0 D) H<sub>0</sub> : β<sub>2</sub> = 0,<sub> </sub>H<sub>1</sub><sub> </sub>: β<sub>2</sub><sub> </sub>≠ 0
= 0.062, THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A real estate broker is interested in identifying the factors that determine the price of a house.She wants to run the following regression: Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + ε where Y = price of the house in $1,000s,X<sub>1</sub> = number of bedrooms,X<sub>2</sub><sub> </sub>= square footage of living space,and X<sub>3</sub><sub> </sub>= number of miles from the beach.Taking a sample of 30 houses,the broker runs a multiple regression and gets the following results: = 123.2 + 4.59x<sub>1</sub> + 0.125x<sub>2</sub> - 6.04x<sub>3</sub>, = 103.2, = 2.13, = 0.062, = 4.17,R<sup>2</sup> = 0.47,and = 0.45 (adjusted) . -What should the null and alternative hypotheses be for β<sub>2</sub>? A) H<sub>0</sub> : β<sub>2</sub><sub> </sub>= 0,<sub> </sub>H<sub>1</sub> :<sub> </sub>β<sub>2</sub> > 0 B) H<sub>0</sub> : β<sub>2</sub><sub> </sub>≠ 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub> = 0 C) H<sub>0</sub> : β<sub>2</sub> > 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub><sub> </sub>< 0 D) H<sub>0</sub> : β<sub>2</sub> = 0,<sub> </sub>H<sub>1</sub><sub> </sub>: β<sub>2</sub><sub> </sub>≠ 0
= 4.17,R2 = 0.47,and THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A real estate broker is interested in identifying the factors that determine the price of a house.She wants to run the following regression: Y = β<sub>0</sub> + β<sub>1</sub>X<sub>1</sub> + β<sub>2</sub>X<sub>2</sub> + β<sub>3</sub>X<sub>3</sub> + ε where Y = price of the house in $1,000s,X<sub>1</sub> = number of bedrooms,X<sub>2</sub><sub> </sub>= square footage of living space,and X<sub>3</sub><sub> </sub>= number of miles from the beach.Taking a sample of 30 houses,the broker runs a multiple regression and gets the following results: = 123.2 + 4.59x<sub>1</sub> + 0.125x<sub>2</sub> - 6.04x<sub>3</sub>, = 103.2, = 2.13, = 0.062, = 4.17,R<sup>2</sup> = 0.47,and = 0.45 (adjusted) . -What should the null and alternative hypotheses be for β<sub>2</sub>? A) H<sub>0</sub> : β<sub>2</sub><sub> </sub>= 0,<sub> </sub>H<sub>1</sub> :<sub> </sub>β<sub>2</sub> > 0 B) H<sub>0</sub> : β<sub>2</sub><sub> </sub>≠ 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub> = 0 C) H<sub>0</sub> : β<sub>2</sub> > 0,<sub> </sub>H<sub>1</sub><sub> </sub>:<sub> </sub>β<sub>2</sub><sub> </sub>< 0 D) H<sub>0</sub> : β<sub>2</sub> = 0,<sub> </sub>H<sub>1</sub><sub> </sub>: β<sub>2</sub><sub> </sub>≠ 0
= 0.45 (adjusted) .
-What should the null and alternative hypotheses be for β2?


A) H0 : β2 = 0, H1 : β2 > 0
B) H0 : β2 ≠ 0, H1 : β2 = 0
C) H0 : β2 > 0, H1 : β2 < 0
D) H0 : β2 = 0, H1 : β2 ≠ 0

Correct Answer:

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