A company that manufactures computer chips wants to use a multiple regression model to study the effect that 3 different variables have on y, the total daily production cost (in thousands of dollars). Let B,, B,, and B, denote the coefficients of the 3 variables in this model. Using 22 observations on each of the variables, the software program used to find the estimated regression model reports that the total sum of squares (SST) is 485.84 and the regression sum of squares (SSR) is 229.91. Using a significance level of 0.10, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting daily production costs? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative B hypothesis H, is given. H :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. D=0 OSO (Choose one) ▼ O

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A company that manufactures computer chips wants to use a multiple regression model to study the effect that 3 different variables have on y, the total daily
production cost (in thousands of dollars). Let B,, B,, and B, denote the coefficients of the 3 variables in this model. Using 22 observations on each of the
variables, the software program used to find the estimated regression model reports that the total sum of squares (SST) is 485.84 and the regression sum of
squares (SSR) is 229.91. Using a significance level of 0.10, can you conclude that at least one of the independent variables in the model provides useful (i.e.,
statistically significant) information for predicting daily production costs?
Perform a one-tailed test. Then complete the parts below.
Carry your intermediate computations to three or more decimal places.
(a) State the null hypothesis H, for the test. Note that the alternative
hypothesis H, is given.
H, :0
H, : at least one of the independent variables is useful
(b) Determine the type of test statistic to use.
O=0
OSO
(Choose one)
ロロ
O<O
O>O
(c) Find the value of the test statistic. (Round to two or more decimal places.)
(d) Find the p-value. (Round to three or more decimal places.)
(e) Can you conclude that at least one of the independent variables in the model
provides useful information for predicting daily production costs?
O Yes oNo
Transcribed Image Text:A company that manufactures computer chips wants to use a multiple regression model to study the effect that 3 different variables have on y, the total daily production cost (in thousands of dollars). Let B,, B,, and B, denote the coefficients of the 3 variables in this model. Using 22 observations on each of the variables, the software program used to find the estimated regression model reports that the total sum of squares (SST) is 485.84 and the regression sum of squares (SSR) is 229.91. Using a significance level of 0.10, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting daily production costs? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative hypothesis H, is given. H, :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. O=0 OSO (Choose one) ロロ O<O O>O (c) Find the value of the test statistic. (Round to two or more decimal places.) (d) Find the p-value. (Round to three or more decimal places.) (e) Can you conclude that at least one of the independent variables in the model provides useful information for predicting daily production costs? O Yes oNo
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