It is believed that gasoline price is determined by the oil price and the overall economic activity in Demoland. A Demoish researcher gathers data on gasoline prices, Gross Domestic Product (GDP) and oil prices over a 12 year period and runs the following regression, which is estimated in terms of logarithms. The partial output is provided. A final observation is that minimum and maximum values for log(GDP) are 12.03 and 12.35, respectively. The researcher claims that the overall economic activity in the country positively affects the gasoline prices. log(Gasprice)-30 +31 log(GDP) + 82 log(Oilprice) + Regression Statistics Multiple R Rª Adjusted-Rª Standard Error Observations ANOVA Regression Residual Total 0.107527 12 Select one: O df SS Coefficients Standard Error -1.07155 3.082363 0.69219 0.252018 1.368064 0.008742 a. 0.9566 and 0.9469 0.104058 2.396792 Use "Formula Sheet Fall 2020" if necessary. b. 0.0434 and 0.0531 c. 0.9912 and 0.9469 Intercept LogGDP logOilprice What are the values of coefficient of determination and adjusted-R2, respectively? MS P-value 1-Stat -0.34764 0.736102 0.022603 13.85496 2.24E-07 Significance F 7.A4E-07 d. 0.7693 and 0.7421 e. We don't have enough information to compute those quantities.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

please pick answer asap

It is believed that gasoline price is determined by the oil price and the overall economic activity in Demoland. A Demoish
researcher gathers data on gasoline prices, Gross Domestic Product (GDP) and oil prices over a 12 year period and runs
the following regression, which is estimated in terms of logarithms. The partial output is provided. A final observation is
that minimum and maximum values for log(GDP) are 12.03 and 12.35, respectively. The researcher claims that the
overall economic activity in the country positively affects the gasoline prices.
log(Gasprice)=30+31 log(GDP) + 82 log(Oilprice) +
Regression Statistics
Multiple R
R²
Adjusted-R²
Standard Error
Observations
ANOVA
Regression
Residual
Total
0.107527
12
df
Select one:
SS
0.104058
2.396792
Coefficients Standard Error
-1.07155
0.69219
1.368064
Intercept
LogGDP
logOilprice
What are the values of coefficient of determination and adjusted-R2, respectively?
3.082363
0.252018
0.098742
Use "Formula Sheet Fall 2020" if necessary.
MS
F
P-value
t-Stat
-0.34764 0.736102
0.022603
13.85496 2.24E-07
Significance F
7.4E-07
a. 0.9566 and 0.9469
b. 0.0434 and 0.0531
c. 0.9912 and 0.9469
d. 0.7693 and 0.7421
e. We don't have enough information to compute those quantities.
Transcribed Image Text:It is believed that gasoline price is determined by the oil price and the overall economic activity in Demoland. A Demoish researcher gathers data on gasoline prices, Gross Domestic Product (GDP) and oil prices over a 12 year period and runs the following regression, which is estimated in terms of logarithms. The partial output is provided. A final observation is that minimum and maximum values for log(GDP) are 12.03 and 12.35, respectively. The researcher claims that the overall economic activity in the country positively affects the gasoline prices. log(Gasprice)=30+31 log(GDP) + 82 log(Oilprice) + Regression Statistics Multiple R R² Adjusted-R² Standard Error Observations ANOVA Regression Residual Total 0.107527 12 df Select one: SS 0.104058 2.396792 Coefficients Standard Error -1.07155 0.69219 1.368064 Intercept LogGDP logOilprice What are the values of coefficient of determination and adjusted-R2, respectively? 3.082363 0.252018 0.098742 Use "Formula Sheet Fall 2020" if necessary. MS F P-value t-Stat -0.34764 0.736102 0.022603 13.85496 2.24E-07 Significance F 7.4E-07 a. 0.9566 and 0.9469 b. 0.0434 and 0.0531 c. 0.9912 and 0.9469 d. 0.7693 and 0.7421 e. We don't have enough information to compute those quantities.
Expert Solution
steps

Step by step

Solved in 4 steps with 3 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman