Kizspy | Question: 68
(Choose 1 answer)
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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.
SUMMARY OUTPUT
A. $2.52 billion
B. $0.48 billion
Regression Statistics
Multiple R R Square
0.991
C. $1.33 billion
0.982
D. $2.52 billion
Adjusted R Square
0.976
Standard Error Observations
0.299
10
ANOVA
df
SS
MS
F
Signif
F
Regression Residual
Total
270
2
33.4163
16.7082 186.325 0.0001
0.6277
0.0897
9
34.0440
Coeff
StdError 1 Stat
P-value
Intercept
-0.0861
0.5674
-0.152
0.8837
GDP
0.7654
0.0574
13.340
0.0001
Price
-0.0006
0.0028 -0.219
0.8330
One economy in the sample had an aggregate consumption level of $3 billion, a GDP of $3.5 billion, and an aggregate price level of 125.What is the residual for this data point?
