An Economist Is Interested To See How Consumption For An Economy In Billions Is Influenced By Gross Domestic Product 1 (14.52 KiB) Viewed 34 times
An Economist Is Interested To See How Consumption For An Economy In Billions Is Influenced By Gross Domestic Product 2 (44.11 KiB) Viewed 34 times
An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic product (5 billions) and aggregate price (consumer price index). The Microsoft Excel output of this regression is partially reproduced in the accompanying tables. When the economist used a simple linear regression model with consumption as the dependent variable and GOP as the independent variable, he obtained an value of 0.971. What additional percentage of the total variation of consumption has been explained by including aggregate prices in the multiple regression? Click the icon to view the Excel output OA 1.1 OB 28 OC. 982 OD. 11.1
Excel output SUMMARY OUTPUT Multiple R R Square Adjusted R Square Standard Error Observations Regression Residual Total Intercept GDP Price Regression Statistics 0.991, 0.982 0.976 0.299 10 df SS 2 33.4163 7 0.6277 9 34.0440 Coeff -0.0861 0.7654 -0.0006 ANOVA MS 16.7082 0.0897 StdError 0.5674 0.0574 0.0028 F 186.325 t Stat -0.152 13.340 -0.219 Signif F 0.0001 P-value 0.8837 0.0001 0.8330
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