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    An economist is interested to see how consumption for an economy (in billions) is influenced by gross domestic product (billions)

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    An economist is interested to see how consumption for an economy (in billions) is influenced by gross domestic product (billions) and aggregate price (consumer price index). The Microsoft Excel output of this regression is partially reproduced below.

    SUMMARY OUTPUT

    Regression Statistics
    Multiple R 0.991
    R Square 0.982
    Adjusted R Square 0.976
    Standard error 0.299
    Observations 10

    ANOVA
    df SS MS F SignifF
    Regression 2 33.4163 16.7082 186.325 0.0001
    Residual 7 0.6277 0.0897
    Total 9 34.0440

    Coeff StdError t Stat P-Value
    Intercept -0.0861 0.5674 -0.152 0.8837
    GDP 0.7654 0.0574 13.340 0.0001
    Price -0.0006 0.0028 -0.219 0.8330

    Referring to the table, what is the predicted consumption level for an economy with GDP equal to $4 Billion and an aggregate price index of 150?

    A. 1.39 Billion
    B. 2.89 Billion
    C. 4.75 Billion
    D. 9.45 Billion

    Referring to the table, to test whether gross domestic product has a positive impact on consumption, the p-value is

    A. 0.00005
    B. 0.0001
    C. 0.9999
    D. 0.99995

    Referring to the table, to test for the significance of the coefficient on aggregate price index, the value of the relevant t-statistic is

    A. 2.365
    B. 0.143
    C. -0.219
    -1.960

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    https://brainmass.com/statistics/regression-analysis/89058

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