TABLE 13-4
A real estate builder wishes to determine how house size (House) is influenced by family income (Income), family size (Size), and education of the head of household (School). House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years. The builder randomly selected 50 families and ran the multiple regression. Microsoft Excel output is provided below:

-Referring to Table 13-4, which of the following values for the level of significance is the smallest for which the regression model as a whole is significant?
A) 0.0005
B) 0.001
C) 0.01
D) 0.05

Question

TABLE 13-4
A real estate builder wishes to determine how house size (House) is influenced by family income (Income), family size (Size), and education of the head of household (School). House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years. The builder randomly selected 50 families and ran the multiple regression. Microsoft Excel output is provided below:
 
-Referring to Table 13-4, which of the following values for the level of significance is the smallest for which the regression model as a whole is significant?
A) 0.0005 
B) 0.001 
C) 0.01 
D) 0.05

Quizplus · Accepted Answer

The smallest level of significance for which the regression model is significant is the one that is closest to the p-value of the model without being smaller than it. If the p-value is less than or equal to 0.0005, then 0.0005 is the smallest significance level for which the model is significant.

TABLE 13-4 A Real Estate Builder Wishes to Determine How House Size