Can you reject null hypothesis that price doesnt affected

Assignment Help Microeconomics

Reference no: EM13454946

You are given the following regression results estimating the demand for widgets based on time series data for the past 40 months.

Q_t = 2.5 - 0.3 x P_t + 12 x M_t

Where Q_t represents the quantity of widgets sold per period t, P_trepresents the price of widgets during period t, and M_t represents average household income of customers during period t.

You are also given the following information about the regression results

R2 = 0.75 F-statistic = 23 Durbin-Watson (d) statistic = 0.66
standard deviation of constant = 0.52; standard deviation of P = 0.16
standard deviation of M = 2.0

a. Which of the independent variables are statistically significant at the 5% level?

b. Can you reject the null hypothesis that price does not affected quantity demanded? Can you reject the null hypothesis that income does not affect quantity demanded?

c. What proportion of total variation in Q is explained by the regression equation?

d. Is the F-statistic significant at the 5% level? What is the meaning of the F-statistic and F test?

Reference no: EM13454946

Questions Cloud

Analyze an instance where you had to make intuitive : examine an instance where you had to make an intuitive decision that required quick thinking on your part. describe the

The correlation between the number correct on a math test : given the following information use table b.4 in appendix b ofnbspstatistics for people who hate statisticsnbspto

How would a strain of escherichia coli look beneath a : how would a strain of escherichia coli look under a microscope if it had a mutation that inactivated the protein mreb

Develop the tools of analysis synthesis and problem : 1.develop usable management skills that require the application of marketing theorymodels to practical business

Can you reject null hypothesis that price doesnt affected : you are given the following regression results estimating the demand for widgets based on time series data for the past

Define the term gender what is sex in biological terms are : bullwhat is gender? what is sex in biological terms? are gender and sex the same thing? explain why or why not?bullhow

Dscribe how your issue fits into the field of sociology : need 3-5 page rough draft . i have already completed thesis and outline. need draft to go along with it. would

Name the version of iron which would predominate in early : which version of iron would predominate in early earth conditions? explain why. which version of iron predominates

Robert nardelli was heavily criticized for his leadership : robert nardelli was heavily criticized for his leadership style and methods he used during his tenure as ceo of home

User Account

All Pages