Some believe that the amount a person spends on vacation (X) depends on how big
ID: 3364741 • Letter: S
Question
Some believe that the amount a person spends on vacation (X) depends on how big a raise (Y) the person gets. During January and February of 2016 information was collected from 100 people.
Coefficient Standard Error T stat p-value
Intercept 281.7 142.7 1.97 0.084
raise 0.06808 0.02354 2.89 0.020
Refer to the computer output above.
24. The slope coefficient indicates that for every 1 unit increase in
Dollars spent on vacation (Y), there is a $287.7 raise.
Dollars spent on vacation (Y), there is a 2.34% increase in raise.
Raise (X), there is a .06808 increase in dollars spent on vacation (Y).
Raise (X), there is a 0.02 increase in dollars spent on vacation (Y).
Raise (X), there is a 281.7 increase in dollars spent on vacation (Y).
25. The p-value of 0.02 means
Raise is not a statistically significant predictor, drop it from the regression equation.
Raise is a statistically significant predictor, keep it in the regression equation.
Intercept is a statistically significant predictor, keep it in the regression equation.
Intercept is not a statistically significant predictor, drop it from the regression equation.
None of the above.
26. The scatter plot of brands X and Y below indicates a:
Negative correlation between Brand X and Brand Y.
Positive correlation between Brand X and Brand Y.
Non-zero correlation (extremely week linear relationship) between Brand X and Brand Y.
Curved relationship ( not linear)
exponential
Explanation / Answer
24)
Raise (X), there is a .06808 increase in dollars spent on vacation (Y).
as slope coefficient = .06808
25) If alpha = 0.05
null is rejected
Raise is a statistically significant predictor, keep it in the regression equation.
26)
scatter plot of brands X and Y not shown
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