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Question
Multiple regression analysis was used to study how an individual's income (yin thousands of dollars) is influenced by age (x1in years), level of education (x2ranging from 1 to 5), and the person's gender (x3where 0 =female and 1=male). The following is a partial result of Excel output that was used on a sample of 20 individuals.| ANOVA | ||||
| df | SS | MS | F | |
| Regression | 84 | |||
| Residual | 112 | |||
| Coefficients | Standard Error | |||
| x1 | 0.6251 | 0.094 | ||
| x2 | 0.9210 | 0.190 | ||
| x3 | -0.510 | 0.920 |
a. Compute the coefficient of determination.
b. Perform a t test and determine whether or not the coefficient of the variable "level of education" (i.e., x2) is significantly different from zero. Let
= 0.05.c. At
= 0.05, perform an Ftest and determine whether or not the regression model is significant.d. As you note the coefficient of x3is -0.510. Fully interpret the meaning of this coefficient.
Answer
This answer is hidden. It contains 100 characters.
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