The manufacturer of Beanie Baby dolls used quarterly price data for 2012/- 2020/V (t = 1, ..., 36) and the regression equationPt= a + bt+c₁D1t + c2D2t + c3D3tto forecast doll prices in the year 2021. Pt is the quarterly price of dolls, and D1, D2t, and D3+ are dummy variables for quarters I, II, and III, respectively.DEPENDENT VARIABLE: PT R-SQUAREP-VALUE ON F0.0001OBSERVATIONS:F-RATIO76.34STANDARD36 0.9078PARAMETERESTIMATEVARIABLEERRORT-RATIOP-VALUEINTERCEPT24.06.203.870.0005T0.80.2403.330.0022D1-8.02.60-3.08 0.0043D2-6.01.80-3.330.0022D3-4.00.60-6.67 0.0001At the 2 percent level of statistical significance, is there a statistically significant trend in the price of dolls?Multiple ChoiceYes, because 0.0022 < 0.02.No, because 0.0022 > 0.02.Yes, because 0.800 > 0.02.Yes, because 0.240 > 0.02.Yes, because 3.33 > 0.02.

The level of significance is 0.02.

Answered: The manufacturer of Beanie Baby dolls…

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter4: Writing Linear Equations

Section: Chapter Questions

Problem 14CR

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