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(Choose 1 answer)
(See picture)
☐ A
A. None of the other choices is correct
☐ C
B. $3.27 billion
☐ D
C. $3.26 billion
☐ E
D. $2.90 billion
E. $3.64 billion
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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 (see the picture).
SUMMARY OUTPUT
FUO.Sh
sh the exam.
Regression Statistics
Multiple R
0.991
R Square
0.982
Adjusted R Square
0.976
Standard Error
0.299
Observations
10
ANOVA
df
SS
MS
F
Signif F
Regression
2
33.4163
Residual
0.6277
16.7082
0.0897
186.325
0.0001
Total
9
34.0440
Coeff
StdError
1 Stat
Intercept
-0.0861
0.5674
-0.152
P-value
0.8837
GDP
Price
0.7654
0.0574
13.340
0.0001
- 0.0006
0.0028
-0.219
0.8330
What is the predicted consumption level for an economy with GDP equal to
$4.5 billion and an aggregate price index of 160?
