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Influential wine critics sometimes publish their personal ratings of ​wines, and many consumers pay close attention....

Influential wine critics sometimes publish their personal ratings of ​wines, and many consumers pay close attention. Do these ratings affect the​ price?

A regression of the log of price on the rating was fitted. Does this model provide a better description of the pattern in the​ data? Estimated log(Price) = -11.68 + 0.17 Rating. Does this model provide a better description of the pattern in the​ data?

a. Yes, because it does not give negative prices for any ratings within the range of the data.

b. Yes, because the intercept is​ negative, and there cannot be a negative price for a rating of zero.

c. No, because the intercept is still​ negative, and there cannot be a negative price even if the rating is zero.

d. No, because it does not give negative prices for any ratings within the range of the data.

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Answer #1

Yes, because it does not give negative prices for any ratings within the range of the data.

Option A is correct.

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