Exhibit 15-2: Y = 7 - 3X1 + 5X2 (the 1 and 2 are subscripts). SSR = 3500 and SSE

Question

Exhibit 15-2: Y = 7 - 3X1 + 5X2 (the 1 and 2 are subscripts). SSR = 3500 and SSE = 1500, and the sample size is 18.                                                            Refer to exhibit 15-2. to test for the significance of the model, the p-value is (a) less than 0.01 (b) between 0.01 and 0.025 (c) between 0.025 and 0.05 (d) between 0.05 and 0.10             answer key says choice A but I don't know how to get it. I computed the test statistic F to be 17.5 but don't know where to go from there. Could someone explain this to me. Thanks in advance.

Explanation / Answer

Exhibit 15-2: Y = 7 - 3X1 + 5X2 (the 1 and 2 are subscripts). SSR = 3500 and SSE = 1500, and the sample size is 18.                                                            Refer to exhibit 15-2. to test for the significance of the model, the p-value is

you need to use the tables of F stats

df1 = 2-1 = 1

df2 = 18 -2 = 16

F 17.5

p value is 0.00070261

answer : (a) less than 0.01

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