NO.PZ201512020300000206
问题如下：
6. For the analysis run by Batten, which of the following is an incorrect conclusion from the regression output?
选项：
A.The estimated intercept coefficient from Batten’s regression is statistically significant at the 0.05 level.
B.In the month after the CPIENG declines, Stellar’s common stock is expected to exhibit a positive return.
C.Viewed in combination, the slope and intercept coefficients from Batten’s regression are not statistically significant at the 0.05 level.
解释：
C is correct.
C is the correct response, because it is a false statement. The slope and intercept are both statistically significant.
请解释一下b选项，题目说“in the month after the CPIENG declines” 所以指的是在自变量下降的后一年return的变化，由于这一年是decline，所以return是positive，考虑到均值复归，下一年应该是negative，为什么不能这样理解？
