Multiple choices 31/50
(Choose 1 answer)
(See picture)
A. $4.75 billion
B. $1.39 billion
C. $9.45 billion
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
Next
D. $2.89 billion
Regression Statistics
Multiple R R Square
0.991
0.982
Adjusted R Square
0.976
Standard Error
0.299
Observations
10
ANOVA
af
SS
MS
Regression
2
33.4163
Residual
Total
7
0.6277
F
16.7082
0.0897
Signif
186.325
F
0.0001
9
34.0440
Intercept
GDP
Price
Coeff
-0.0861
0.7654
-0.0006
StdError
0.5674
0.0574
0.0028 -0.219
t Stat
-0.152
P-value
0.8837
13.340
0.0001
0.8330
What is the estimated mean consumption level for an economy with GDP equal to $2 billion and an aggregate price index of 90?
