When testing joint hypothesis, you should
A) use t-statistics for each hypothesis and reject the null hypothesis is all of the restrictions fail.
B) use the F-statistic and reject all the hypothesis if the statistic exceeds the critical value.
C) use t-statistics for each hypothesis and reject the null hypothesis once the statistic exceeds the critical value for a single hypothesis.
D) use the F-statistics and reject at least one of the hypothesis if the statistic exceeds the critical value.
Answer: D
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Quantity demanded is affected not just by price but by other variables, such as income and the prices of other goods.
Answer the following statement true (T) or false (F)
Hans can do 4 loads of laundry per hour, and he can type 6 pages per hour. Maria can do 12 loads of laundry per hour, and she can type 8 pages per hour. Hans’s opportunity cost of typing one page is:
A. 4 pages.
B. 6 pages.
C. 2/3 of a page.
D. 3/2 of a page.
E. impossible to compute without additional information.
If the spending multiplier is 3 and the desired amount of increase in real GDP is $90 million, then by how much would government spending have to increase? a. $270 million. b. $90 million
c. $30 million. d. $0.
Assume that demand decreases by 3 percent, the absolute value of price elasticity of demand is 1.0, and price elasticity of supply is 1.0. What is the percentage price change in this case?
What will be an ideal response?