A researcher analyzes the factors that may influence amusement park attendance.
ID: 3295235 • Letter: A
Question
A researcher analyzes the factors that may influence amusement park attendance. She estimates the following model: Attendance = 0 + 1Price + 2Temperature + 3Rides + , where Attendance is the daily attendance (in 1,000s), Price is the gate price (in $), Temperature is the average daily temperature (in °F), and Rides is the number of rides at the amusement park. A portion of the regression results is shown in the accompanying table.
1.When testing whether Price is significant in explaining Attendance, the value of the test statistic is ________.
D. 4.085.
2. When testing whether the explanatory variables Temperature and Rides are jointly significant, the error sum of squares for the restricted model is SSER = 12,343.78. Which of the following is the value of the test statistic when conducting this test?
A. 1.201. B. 4.085. C. 1.201.D. 4.085.
2. When testing whether the explanatory variables Temperature and Rides are jointly significant, the error sum of squares for the restricted model is SSER = 12,343.78. Which of the following is the value of the test statistic when conducting this test?
A. 4.09 B. 25.33 C. 49.58 D. 99.78 df MS F Significance Regression 3 2952441 9841.47 Residual 26 2,564.37 9863 2.18E-14 Total 29 32,088.78 coefficients/ Standard t-stat p-value Lower 95%Upper 95% 0.5032 -55.415 110.071 Intercept27.32840.254 0.294 0.208 0.364 Price 0.598 1.201 Temperature0.008 3.621 0.0004 0.9693 0.4190.435 4.369 Rides 2.32E-10 2.874Explanation / Answer
1) Price=-1.201/0.294=-4.085. Hence, the correct answer is B.
2) The correct answer for this would be 49.58 i.e. C.
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