Screenshots provided below - XData for Sales Over TimeThe accompanying data describe sales over timedollar sales of the convenience store. The explanatory variable Volume gives the number of gallons of gasoline sold, and Washes gives the number of car washa franchise outlet of a major U.S. oil company. Each row summarizes sales for one day. This particular staticjeClick the icon to view the table of data for sales over time.Full data set ASalesVolume WashesSalesVolume WashesB. Car washes because the slope for Washes is larger than the slope for Volume and the daily number of car washes is more than the volume of gallons sc(Dollars) (Gallons)22102286(Dollars) (Gallons)347814921843283127O C. Gasoline sales because the slope for Volume is larger than the slope for Washes and the daily volume of gallons sold is more than the number of car wa37212222258360695O D. Car washes because one car wash costs more than a tank of gas.22613619118223435011482112297030622853716271Do the slopes of these variables in the multiple regression provide the full answer?23063808294198224111932274367510622363511923292401422373516622187O A. The slopes do not provide any part of the answer. The answer depends on the p-value corresponding to each explanatory variable.256260230437953582354O B. The slopes provide the full answer. The larger the (positive) slope, the more that variable contributes to the model.24114260324227136649923271876227136582793900165O C. The slopes only provide part of the answer. The volume of gallons of gasoline and the number of car washes per day is also important.231423631986205138441771952169405240323063807246(c) Find the variance inflation factor.2422270925131630723213872373133671682289VIF(Volume) = VIF(Washes) = (Round to two decimal places as needed.)211321542160206520763272782204197122582019302182297031502361Interpret the variance inflation factor. Choose the correct answer below.31782767360325674028240319271211181235721452816324A. Collinearity has a significant effect on the standard errors.21963338383115185O B. The two variables Volume and Washes are perfectly collinear. One of the variables should be dropped from the model (the one with the lower p-value).OC. Collinearity has little effect on the standard errors.PrintDoneO D. Collinearity has no effect on the standard errors.(d) One of the explanatory variables is just barely statistically significant. Assuming the same estimated value, would a complete lack of collinearity have made this explanatory variable noticeably more statistically significant?O A. No, collinearity does not effect the p-values for explanatory variables.O B. Yes, because the variance inflation factor is not 1.O C. Yes, because collinearity has a significant impact on the standard errors of the explanatory variables in this problem.O D. No, there is almost no collinearity. The accompanying data describe sales over time at a franchise outlet of a major U.S. oil company. Each row summarizes sales for one day. This particular station sells gas, and it also has a convenience store and a car wash. The response Sales gives thedollar sales of the convenience store. The explanatory variable Volume gives the number of gallons of gasoline sold, and Washes gives the number of car washes sold at the station. Complete parts a through d below.Click the icon to view the table of data for sales over time.Data for Sales Over Time(a) Fit the multiple regression of Sales on Volume and Washes. Do both explanatory variables improve the fit of the model? Use a = 0.05.O A. Both explanatory variables improve the fitthe model, though the variable Volume just barely improves the model.O B. Both explanatory variables improve the fit of the model, though the variable Washes just barely improves the model.Full data set OSalesVolume WashesSalesVolumeWashesO C. Only the variable Washes improves the fit of the model, though just barely.(Dollars) (Gallons)221022862261(Dollars) (Gallons)2184225822342285149222O D. Only the variable Volume improves the fit of the model, though just barely.347832831273721360695(b) Which explanatory variable is more important to the success of sales at the convenience store: gasoline sales or car washes?3619118350114821122970306371627123062274380829419822411193O A. Gasoline sales because more gallons of gasoline are sold each day than the number of car washes.36751062236351192Car washes because the slope for Washes is larger thanslope for Volume and the daily number of car washes is more than the volume of gallons2237351662218732922562304379535823544014260O C. Gasoline sales because the slope for Volume is larger than the slope for Washes and the daily volume of gallons sold is more than the number of car washes.2411227142603242271366499365827923273900165O D. Car washes because one car wash costs more than a tank of gas.23143844177187619521694052236319862051211321542160206540323063807246Do the slopes of these variables in the multiple regression provide the full answer?242230723213872251270916822893731316O A. The slopes do not provide any part of the answer. The answer depends on the p-value corresponding to each explanatory variable.297032722043367302315027819712361182O B. The slopes provide the full answer. The larger the (positive) slope, the more that variable contributes to the model.317827122583603240OC. The slopes only provide part of the answer. The volume of gallons of gasoline and the number of car washes per day is also important.2767211201925673192076281618123574028324(c) Find the variance inflation factor.219633383821453115185VIF(Volume) = VIF(Washes) = (Round to two decimal places as needed.)PrintDoneInterpret the variance inflation factor. Choose the correct answer below.O A. Collinearity has a significant effect on the standard errors.O B. The two variables Volume and Washes are perfectly collinear. One of the variables should be dropped from the model (the one with the lower p-value).

Question

Accepted Answer

an explanatory variable is a type of independent variable.