A 95% confidence interval for the slope of a simple linear regression model is found to be (0.0046, 0.0252). This means that Select one: a. We are 95% confident the value of the predictor variable will increase by between 0.0046 and 0.0252 units. b. We are 95% confident that the average value of the response value lies between 0.0046 and 0.0252 c. We are 95% confident that the average value of response increases by between 0.0046 and 0.0252 units for every unit increase in the predictor. d. At 5% level of significance, there is no statistical evidence of a linear relationship between response and predictor

A 95% confidence interval for the slope of a simple linear regression model is found to be (0.0046, 0.0252). This means that Select one: a. We are 95% confident the value of the predictor variable will increase by between 0.0046 and 0.0252 units. b. We are 95% confident that the average value of the response value lies between 0.0046 and 0.0252 c. We are 95% confident that the average value of response increases by between 0.0046 and 0.0252 units for every unit increase in the predictor. d. At 5% level of significance, there is no statistical evidence of a linear relationship between response and predictor

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4A: Problems In Applying The Linear Regression Model

Section: Chapter Questions

Problem 2E

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