Which of the following statements is true?
A) If the confidence interval estimate for the regression slope coefficient crosses over zero, the average change in y for a one-unit change in x may be zero.
B) If the regression slope coefficient is very close to zero, this means that the relationship between the x and y variables is statistically insignificant.
C) A statistically significant regression slope coefficient indicates that for a one-unit change in y there will be a positive change in x by an amount equal to the regression slope coefficient.
D) It is acceptable to make predictions for y using x values that are outside the range of the data that was used in the regression.
A
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Determine the prices that Sara should charge to maximize profit
Sara's Sensible Critters makes two kinds of catnip toys: balls (x1) and mice (x2). The relationship between demand and price for balls and mice is: x1 = 1800 - 150p1 x2 = 1500 - 300p2 The cost for a catnip ball is $2 and for the mouse, $3. Sara has only 200 ounces of catnip on hand. A ball uses a tenth of an ounce and a toy mouse uses one-quarter of an ounce.
Objective probabilities that can be stated prior to the occurrence of an event are classical or a priori
Indicate whether this statement is true or false.