Multiple Linear RegressionIf the p-value for the overall significance hypothesis test of the multiple linear regression is 0.007, which of the following statements is correct at a 99 percent confidence level?The annual income has a significant influence on the credit card bill.The annual income and annual credit card charges have a significant influence on the credit card bill.The annual income, annual credit card charges, and household size have a significant influence on the credit card bill.At least one of the annual income, annual credit card charges, and household size has a significant influence on the credit card bill.Can’t comment at a 99 percent confidence level.

Multiple Linear RegressionWhat is the null and alternative hypotheses for an overall significance test if the research agency uses multiple linear regression to predict the bill amount of a credit card user using the annual income, annual credit card charges, and household size for a sample of credit card users?H0: All the regression coefficients of the household size, annual income, and annual credit card charges are equal to zero.Ha: At least one of the regression coefficients of the household size, annual income, and annual credit card charges is non-zero.H0: All the regression coefficients of the household size, annual income, and annual credit card charges are equal to zero.Ha: All the coefficients of the household size, annual income, and annual credit card charges are non-zero.H0: At least one of the regression coefficients of the household size, annual income, and annual credit card charges is equal to zero.Ha: All the coefficients of the household size, annual income, and annual credit card charges are non-zero.✕ IncorrectFeedback:The hypothesis for the overall significance test is — H0: None of the independent variables has a significant influence on the dependent variableHa: At least one independent variable has a significant influence on the dependent variable.H0: At least one of the regression coefficients of the household size, annual income, and annual credit card charges is equal to zero.Ha: At least one of the coefficients of the household size, annual income, and annual credit card charges is non-zero.

n order to reject the null hypothesis used in linear regression, the p-value of βi should be?Greater than 0.05Less than 0.05Equal to 0.05

Based on the p-value, what is your conclusion (use .05 significance level)?

A consumer's spending is widely believed to be a function of their income. To estimate this relationship, a university professor randomly selected 19 of his students and collected information on their spending (Y, in dollars) and income (X, in dollars) patterns in week 6 of the semester. Assuming a linear relationship between Y and X, the professor used the least-squares method and found that the Y intercept = 20.90 and the slope = 0.66. The professor also found that the standard error of the slope was 0.08. Based on this information, what conclusion should you reached at the 5% level of significance when testing the null hypothesis that there is no linear relationship between the two variables, X and Y? a. There is sufficient evidence at the 5% level of significance to conclude that there is no significant linear relationship between X and Y. b. There is sufficient evidence at the 5% level of significance to conclude that there is a significant linear relationship between X and Y. c. There is sufficient evidence at the 5% level of significance to conclude that there is a significant linear relationship between the Y intercept and the slope. d. There is insufficient evidence at the 5% level of significance to conclude that there is a significant linear relationship between X and Y.

Confidence in banks: A poll conducted asked a random sample of 1239 adults in the United States how much confidence they had in banks and other financial institutions. A total of 158 adults said that they had a great deal of confidence. An economist claims that greater than 11% of U.S. adults have a great deal of confidence in banks. Can you conclude that the economist's claim is true? Use both =α0.10 and =α0.01 levels of significance and the P-value method with the TI-84 Plus calculator.Part 1 of 5(a) State the appropriate null and alternate hypotheses.:H0 <p0.11:H1 >p0.11This hypothesis test is a ▼right-tailed test.Correct Answer:=:H0p0.11>:H1p0.11This hypothesis test is a right-tailed test.Part: 1 / 51 of 5 Parts CompletePart 2 of 5(b) Compute the value of the test statistic. Round the answer to at least two decimal places.=z