Questions 15-18 use the following information. Suppose in a sample of 5 men that their monthly income y (in thousands of dollars) is regressed on years of schooling x1 and ages x2. Excel output below shows: a) Question 15. At 5% significance level, the model is (options: not significant, not able to determine, significant) b) For someone with 5 years of schooling and 35 years of age, the expected monthly income is closest to (options: $5,300; 6,500; 6,700; 6,900) c)At 5% significance, which one of the following statements is true? (options: both x1 and x2 are significant; both are not significant; only x1 is significant; only x2 is significant) d) A 95% confidence interval for β2 is closest to (– 1.092, 0.672; – 2.14635, 1.72635)
Questions 15-18 use the following information.
Suppose in a sample of 5 men that their monthly income y (in thousands of dollars) is regressed on years of schooling x1 and ages x2. Excel output below shows:
a) Question 15. At 5% significance level, the model is (options: not significant, not able to determine, significant)
b) For someone with 5 years of schooling and 35 years of age, the expected monthly income is closest to (options: $5,300; 6,500; 6,700; 6,900)
c)At 5% significance, which one of the following statements is true? (options: both x1 and x2 are significant; both are not significant; only x1 is significant; only x2 is significant)
d) A 95% confidence interval for β2 is closest to (– 1.092, 0.672; – 2.14635, 1.72635)
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