Use the following to answer the question(s) below.
For many countries tourism is an important source of revenue. Data are collected on the number of foreign visitors to a country (in millions) and total tourism revenue (in billions of dollars) for a sample of 10 countries. Below is the regression analysis output with tourism revenue as the dependent variable.
-The standard error of the slope for this estimated regression equation is
A) 2.58307.
B) 3.462.
C) 0.07917.
D) 6.672.
E) 0.29497.

Question

Use the following to answer the question(s) below.
For many countries tourism is an important source of revenue. Data are collected on the number of foreign visitors to a country (in millions) and total tourism revenue (in billions of dollars) for a sample of 10 countries. Below is the regression analysis output with tourism revenue as the dependent variable. 
-The standard error of the slope for this estimated regression equation is
A) 2.58307. 
B) 3.462. 
C) 0.07917. 
D) 6.672. 
E) 0.29497.

Quizplus · Accepted Answer

The standard error of the slope is given by the coefficient of the X variable divided by its standard error. From the output, we see that the coefficient for the X variable (number of foreign visitors) is 0.0386 and the standard error is 0.4877. Dividing these values, we get a standard error of 0.07917 (rounded to five decimal places). Therefore, the best choice is C.

Use the Following to Answer the Question(s) Below