A LOW P-VALUE FOR AN INDEPENDENT VARIABLE SAY 0.04 INDICATES THAT THE PARAMETER ESTIMATE IS NOT STATISTICALLY Significant the variable should be discarded from future regression models.

a.) True or b)false

If you ran a regression using data on many different used car sales, and had selling price as the dependent variable, the expected sign on the variable "mileage" (how many miles the car had been driven) would be negative.

True

False

If you ran a regression using data on many different used car sales, and had selling price as the dependent variable, the expected sign on the variable "sound" (a dummy variable representing whether the car has upgraded speakers, 1 = upgraded and 0 = standard) would be negative.

True

False