Kizspy | Question: 84
(Choose 1 answer)
(See picture)
A. $1.39 billion
B. $2.89 billion
C. $4.75 billion
D. $9.45 billion
PJOVERILOW.COM
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
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
Regression
Residual
2
33.4163
7
0.6277
16.7082 186.325
0.0897
F
0.0001
Total
9
34.0440
Coeff
Intercept
-0.0861
StdError
0.5674
t Stat
-0.152
P-vahie
0.8837
GDP
Price
0.7654
-0.0006
0.0574
13.340
0.0001
0.0028
-0.219
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?
