Question Details

The constant or intercept term in a statistical demand study represents 



Question 1
Iron ore is an example of a:
a.	durable good
b.	producers' good
c.	nondurable good
d.	consumer good
Question 2
Those goods having a calculated income elasticity that is negative are called:
a.	producers' goods
b.	durable goods
c.	inferior goods
d.	nondurable goods
Question 3
The standard deviation of the error terms in an estimated regression equation is known as:
a.	coefficient of determination
b.	correlation coefficient
c.	Durbin-Watson statistic
d.	standard error of the estimate

Question 4
In regression analysis, the existence of a high degree of intercorrelation among some or all of the explanatory variables in the regression equation constitutes:
a.	autocorrelation
b.	a simultaneous equation relationship
c.	nonlinearities
d.	heteroscedasticity
e.	multicollinearity
Question 5
The constant or intercept term in a statistical demand study represents the quantity demanded when all independent variables are equal to:
a.	1.0
b.	their minimum values
c.	their average values
d.	0.0




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