evaluate if variation of quantity of roses sold explained by the regression model is statistically significant at 5% level

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

a)      Evaluate if variation of quantity of roses sold explained by the regression model is statistically significant at 5% level.                                                                        (6 Marks)

b)      Suppose the average weekly monthly income for a family was increased by Kes. 1,000, holding all other factors constant, examine at 5% level if there would a statistically significant change in the quantity of roses sold.                                       (4 Marks)

c)      Compute the adjusted R-square for the model and interpret its meaning.       (4 Marks)

 

d)     Assess the statistical significance of the intercept, wholesale price of roses (x1), and wholesale price of carnations (x2).                                                               (6 Marks)

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