An analyst examines the effect that various variables have on crop yield.He estimates y = β₀ + β₁x₁ + β₂x₂ + β₃x₃ + ε.where y is the average yield in bushels per acre,x₁ is the amount of summer rainfall,x₂ is the average daily use in machine hours of tractors on the farm,and x₃ is the amount of fertilizer used per acre.The results of the regression are as follows: a.At the 10% significance level,are the explanatory variables jointly significant in explaining crop yield? Explain.
b.At the 10% significance level,is fertilizer significant in explaining crop yield? Explain.
c.At the 10% significance level,can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

Question

An analyst examines the effect that various variables have on crop yield.He estimates y = β₀ + β₁x₁ + β₂x₂ + β₃x₃ + ε.where y is the average yield in bushels per acre,x₁ is the amount of summer rainfall,x₂ is the average daily use in machine hours of tractors on the farm,and x₃ is the amount of fertilizer used per acre.The results of the regression are as follows:

An analyst examines the effect that various variables have on crop yield.He estimates y = β<sub>0</sub> + β<sub>1</sub>x<sub>1</sub> + β<sub>2</sub>x<sub>2</sub> + β<sub>3</sub>x<sub>3</sub> + ε.where y is the average yield in bushels per acre,x<sub>1</sub> is the amount of summer rainfall,x<sub>2</sub> is the average daily use in machine hours of tractors on the farm,and x<sub>3</sub> is the amount of fertilizer used per acre.The results of the regression are as follows: a.At the 10% significance level,are the explanatory variables jointly significant in explaining crop yield? Explain. b.At the 10% significance level,is fertilizer significant in explaining crop yield? Explain. c.At the 10% significance level,can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

a.At the 10% significance level,are the explanatory variables jointly significant in explaining crop yield? Explain.
b.At the 10% significance level,is fertilizer significant in explaining crop yield? Explain.
c.At the 10% significance level,can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

Quizplus · Accepted Answer

The Answer of An analyst examines the effect that various variables have on crop yield.He estimates y = β₀ + β₁x₁ + β₂x₂ + β₃x₃ + ε.where y is the average yield in bushels per acre,x₁ is the amount of summer rainfall,x₂ is the average daily use in machine hours of tractors on the farm,and x₃ is the amount of fertilizer used per acre.The results of the regression are as follows: a.At the 10% significance level,are the explanatory variables jointly significant in explaining crop yield? Explain. b.At the 10% significance level,is fertilizer significant in explaining crop yield? Explain. c.At the 10% significance level,can you conclude that the slope coefficient attached to rainfall differs from 9? Explain.

An Analyst Examines the Effect That Various Variables Have on Crop