An analyst examines the effect that various variables have on crop yield. He estimates y = β₀ + β₁x₁ + β₂x₂ + β₃x₃ + ε. where y is the average yield in bushels per acre, x₁ is the amount of summer rainfall, x₂ is the average daily use in machine hours of tractors on the farm, and x₃ is the amount of fertilizer used per acre. The results of the regression are as follows: a. At the 10% significance level, are the explanatory variables jointly significant in explaining crop yield? Explain.
B) At the 10% significance level, is fertilizer significant in explaining crop yield? Explain.
C) At the 10% significance level, can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

Question

An analyst examines the effect that various variables have on crop yield. He estimates y = β₀ + β₁x₁ + β₂x₂ + β₃x₃ + ε. where y is the average yield in bushels per acre, x₁ is the amount of summer rainfall, x₂ is the average daily use in machine hours of tractors on the farm, and x₃ is the amount of fertilizer used per acre. The results of the regression are as follows:

An analyst examines the effect that various variables have on crop yield. He estimates 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 is the average yield in bushels per acre, x<sub>1</sub> is the amount of summer rainfall, x<sub>2</sub> is the average daily use in machine hours of tractors on the farm, and x<sub>3</sub> is the amount of fertilizer used per acre. The results of the regression are as follows: a. At the 10% significance level, are the explanatory variables jointly significant in explaining crop yield? Explain. B) At the 10% significance level, is fertilizer significant in explaining crop yield? Explain. C) At the 10% significance level, can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

a. At the 10% significance level, are the explanatory variables jointly significant in explaining crop yield? Explain.
B) At the 10% significance level, is fertilizer significant in explaining crop yield? Explain.
C) At the 10% significance level, can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

Quizplus · Accepted Answer

The Answer of An analyst examines the effect that various variables have on crop yield. He estimates y = β₀ + β₁x₁ + β₂x₂ + β₃x₃ + ε. where y is the average yield in bushels per acre, x₁ is the amount of summer rainfall, x₂ is the average daily use in machine hours of tractors on the farm, and x₃ is the amount of fertilizer used per acre. The results of the regression are as follows: a. At the 10% significance level, are the explanatory variables jointly significant in explaining crop yield? Explain. B) At the 10% significance level, is fertilizer significant in explaining crop yield? Explain. C) At the 10% significance level, can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

An Analyst Examines the Effect That Various Variables Have on Crop