Build-Right Concrete Products produces specialty cement used in construction of highways.Build-Right is a price-setting firm and estimates the demand for its cement by the State Highway Department using a demand function in the nonlinear form: where Q = yards of cement demanded monthly,P = the price of Build-Right's cement per yard,M = state tax revenues per capita,and = the price of asphalt per yard.The manager at Build-Right transforms the nonlinear relation into a linear relation for estimation.The estimation results are presented below: Given the above,at the 1 percent level of significance,the number of degrees of freedom for a t-test is _____,and the critical value of the t-statistic is ________.0Only parameter estimates)________ is are)NOT statistically significant at the 1 percent level of significance.
A)30; 2.457;
B)30; 2.750;
C)34; 2.042;
D)34; 2.042, and

Question

Build-Right Concrete Products produces specialty cement used in construction of highways.Build-Right is a price-setting firm and estimates the demand for its cement by the State Highway Department using a demand function in the nonlinear form:  where Q = yards of cement demanded monthly,P = the price of Build-Right's cement per yard,M = state tax revenues per capita,and  = the price of asphalt per yard.The manager at Build-Right transforms the nonlinear relation into a linear relation for estimation.The estimation results are presented below:  Given the above,at the 1 percent level of significance,the number of degrees of freedom for a t-test is _____,and the critical value of the t-statistic is ________.0Only parameter estimates)________ is are)NOT statistically significant at the 1 percent level of significance.
A)30; 2.457; 
B)30; 2.750; 
C)34; 2.042; 
D)34; 2.042, and

Quizplus · Accepted Answer

The Answer of Build-Right Concrete Products produces specialty cement used in construction of highways.Build-Right is a price-setting firm and estimates the demand for its cement by the State Highway Department using a demand function in the nonlinear form:  where Q = yards of cement demanded monthly,P = the price of Build-Right's cement per yard,M = state tax revenues per capita,and  = the price of asphalt per yard.The manager at Build-Right transforms the nonlinear relation into a linear relation for estimation.The estimation results are presented below:  Given the above,at the 1 percent level of significance,the number of degrees of freedom for a t-test is _____,and the critical value of the t-statistic is ________.0Only parameter estimates)________ is are)NOT statistically significant at the 1 percent level of significance.
A)30; 2.457; 
B)30; 2.750; 
C)34; 2.042; 
D)34; 2.042, and

Build-Right Concrete Products Produces Specialty Cement Used in Construction of Highways.Build-Right