An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic product (GDP) in $ billions and consumer price index (Price). The Microsoft Excel output of this regression is partially reproduced below. We want to test whether the GDP makes a contribution to the regression model. What is the p-value for the test? Answer: Answer (Please provide your answer to 4 decimal places). Regression Multiple R R Square Adj. R Square Std. Error Observations ANOVA Regression Residual Total Intercept GDP Price Statistics df 2 7 9 Coefficients -1.6335 0.7654 -0.0006 0.991 0.982 0.976 0.299 10 SS 33.4163 0.6277 34.0440 StdError 0.5674 0.0574 0.0028 MS 16.7082 0.0897 t Stat -0.152 13.340 -0.219 F 186.325 P-Value 0.8837 0.0001 0.8330 Significance F 0.0002
An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic product (GDP) in $ billions and consumer price index (Price). The Microsoft Excel output of this regression is partially reproduced below. We want to test whether the GDP makes a contribution to the regression model. What is the p-value for the test? Answer: Answer (Please provide your answer to 4 decimal places). Regression Multiple R R Square Adj. R Square Std. Error Observations ANOVA Regression Residual Total Intercept GDP Price Statistics df 2 7 9 Coefficients -1.6335 0.7654 -0.0006 0.991 0.982 0.976 0.299 10 SS 33.4163 0.6277 34.0440 StdError 0.5674 0.0574 0.0028 MS 16.7082 0.0897 t Stat -0.152 13.340 -0.219 F 186.325 P-Value 0.8837 0.0001 0.8330 Significance F 0.0002
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Dd.43.

Transcribed Image Text:An economist is interested to see how consumption for an economy (in $ billions) is influenced by gross domestic
product (GDP) in $ billions and consumer price index (Price). The Microsoft Excel output of this regression is partially
reproduced below.
We want to test whether the GDP makes a contribution to the regression model. What is the p-value for the test?
Answer: Answer (Please provide your answer to 4 decimal places).
Regression
Multiple R
R Square
Adj. R Square
Std. Error
Observations
ANOVA
Regression
Residual
Total
Intercept
GDP
Price
Statistics
df
2
7
9
Coefficients
-1.6335
0.7654
-0.0006
0.991
0.982
0.976
0.299
10
SS
33.4163
0.6277
34.0440
StdError
0.5674
0.0574
0.0028
MS
16.7082
0.0897
t Stat
-0.152
13.340
-0.219
F
186.325
P-Value
0.8837
0.0001
0.8330
Significance F
0.0002
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