An antiques dealer is interested in factors that might influ

An antiques dealer is interested in factors that might influence the final selling price of grandfather clocks at auction. Her data (from 32 previously auctioned clocks) includes the age of the clock (Age), the number of bidders (Bidders) at the auction, and the final selling price (Y) of the clocks.

Which of the following is the correct statement of the overall Model F test?

SUMMARY OUTPUT Rearession Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.944834723 0.892712653 0.885313526 133.1365018 32 ANOVA Sianificance F 24277159.703 2138580 120.6511 8.76907E-15 MS Regression Residual Total 29 514034.5153 17725.33 31 4791194.219 Intercept Age Bidders Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 1336.722052173.3561261 -7,71084 1.67E-08 -1691.27514-982.1689645 12.736198840.902380487 14.114 1.6E-14 10.89062352 14.58177416 85.81513268.705756815 9.8572869.14E-11 68.00986071 103.6204045

Solution

OPTION F: Ho: B1 = B2 = 0 vs H1: at least one Beta term is not equal to 0. [ANSWER, F]

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The null hypothesis is that your independent variables do not help in predicting the dependent variable, that is, their coefficients are not different from 0. The alternative hypothesis is the opposite of this, so OPTION F.