SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y).To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit and the amount of insulation in inches Given below is EXCEL output of the regression model.
-Referring to Scenario 14-6 and allowing for a 1% probability of committing a type I error, what is the decision and conclusion for the test At least one
A)Do not reject H₀ and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs.
B)Do not reject H₀ and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs.
C)Reject H₀ and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs.
D)Reject H₀ and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs.

Question

SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y).To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit  and the amount of insulation in inches  Given below is EXCEL output of the regression model.  
-Referring to Scenario 14-6 and allowing for a 1% probability of committing a type I error, what is the decision and conclusion for the test  At least one 
A)Do not reject H₀ and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. 
B)Do not reject H₀ and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs. 
C)Reject H₀ and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. 
D)Reject H₀ and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs.

Quizplus · Accepted Answer

The Answer of SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y).To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit  and the amount of insulation in inches  Given below is EXCEL output of the regression model.  
-Referring to Scenario 14-6 and allowing for a 1% probability of committing a type I error, what is the decision and conclusion for the test  At least one 
A)Do not reject H₀ and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. 
B)Do not reject H₀ and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs. 
C)Reject H₀ and conclude that the 2 independent variables taken as a group have significant linear effects on heating costs. 
D)Reject H₀ and conclude that the 2 independent variables taken as a group do not have significant linear effects on heating costs.

SCENARIO 14-6 One of the Most Common Questions of Prospective