Data on a state\'s lobster fishing industry were collected at random intervals f
ID: 2922939 • Letter: D
Question
Data on a state's lobster fishing industry were collected at random intervals for 53 years. A multiple regression was performed to predict the logValue from the number of Traps (millions), the number of Fishers, and the Pounds/Trap. Use the accompanying regression output to complete parts (a) through (d). Assume that scatterplots of the logValue against each of the predictor variables are reasonably straight.
c) Interpret the coefficient of Fishers. Would you expect that restricting the number of lobstering licenses to even fewer fishers would ncrease the value of the harvest? O A. No. The positive coefficient of Fishers means that the logValue of the lobster catch increases by O B. Yes. The negative coefficient of Fishers means that the logValue of the lobster catch decreases by 0.00000939 per fisher. 0.0000404 per fisher C. No. The negative coefficient of Fishers means that the logValue of the lobster catch decreases by 0.0000404 per fisher, but this doesn't mean that a smaller number of fishers would lead to a more valuable harvest because it is likely that Traps and Fishers are correlated, affecting the value and meaning of their coefficients d) State and test the standard null hypothesis for the coefficient of Pounds/Trap. Use the standard -level of 0.05 and state your conclusion. State the null and alternative hypotheses. Choose the correct answer below. OA, Ho:Prounds,Trap:0 O B. Ho: Pounds / Trap #0 HA. Pounds/Trap- HA-Pounds ,Trap # 0 HA-Pounds ,Trap > 0 HA-Pounds / TrapExplanation / Answer
c) B option
As coefficient for Fishers is negative, logvalue will increase if the number of fishers are decreased.
d) A option
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