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 LumberSales (in $100,000s) as the response variable with HousingStarts (in 1,000s) and CommercialConstruction (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 LumberSales? Explain.
B) At the 5% significance level, is CommercialConstruction significant in explaining LumberSales? Explain.
C) At the 5% significance level, can you conclude that the slope coefficient attached to HousingStarts differs from 1? Explain.

Question

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 LumberSales (in $100,000s) as the response variable with HousingStarts (in 1,000s) and CommercialConstruction (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 LumberSales? Explain.
B) At the 5% significance level, is CommercialConstruction significant in explaining LumberSales? Explain.
C) At the 5% significance level, can you conclude that the slope coefficient attached to HousingStarts differs from 1? Explain.

Quizplus · Accepted Answer

The Answer of 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 LumberSales (in $100,000s) as the response variable with HousingStarts (in 1,000s) and CommercialConstruction (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 LumberSales? Explain.
B) At the 5% significance level, is CommercialConstruction significant in explaining LumberSales? Explain.
C) At the 5% significance level, can you conclude that the slope coefficient attached to HousingStarts differs from 1? Explain.

Assume You Ran a Multiple Regression to Gain a Better