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Test whether the number of years in college has a significant impact on income at a.05. What are the hypotheses? How do you test the hypotheses? What is the conclusion?

Test whether the number of years in college has a significant impact on income at a.05. What are the hypotheses? How do you test the hypotheses? What is the conclusion?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The following sample data contains the number of years of college and the current annual salary for a random sample of heavy equipment salespeople. A researcher believes that spending more years in college leads to higher annual income. Annual Income Years in College (In Thousands) 31.2 35.9 2 39.0 2 54.6 4 43.7 28.1 57.7 4 46.8 3 62.4 60.8 SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square 0.959 0.919 0.909 Standard Error 3.756 Observations 10.000 ANOVA df SS Significance F 0.000 MS F Regression 1.000 1,285.245 1,285.245 91.105 Residual 8.000 112.858 14.107 Total 9.000 1,398.103 t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% (1.591) Coefficients itandard Erroi (1.591) 9.613 1.923 0.091 17.581 17.581 Intercept Years in College 7.995 4.157 12.675 1.328 9.545 0.000 9.613 15.737 15.737
Transcribed Image Text:The following sample data contains the number of years of college and the current annual salary for a random sample of heavy equipment salespeople. A researcher believes that spending more years in college leads to higher annual income. Annual Income Years in College (In Thousands) 31.2 35.9 2 39.0 2 54.6 4 43.7 28.1 57.7 4 46.8 3 62.4 60.8 SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square 0.959 0.919 0.909 Standard Error 3.756 Observations 10.000 ANOVA df SS Significance F 0.000 MS F Regression 1.000 1,285.245 1,285.245 91.105 Residual 8.000 112.858 14.107 Total 9.000 1,398.103 t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% (1.591) Coefficients itandard Erroi (1.591) 9.613 1.923 0.091 17.581 17.581 Intercept Years in College 7.995 4.157 12.675 1.328 9.545 0.000 9.613 15.737 15.737
f) Test whether the number of years in college has a significant impact on income at a.05. What are the hypotheses? How do you test the hypotheses? What is the conclusion? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S Paragraph Arial 10pt A x? X2 +, Ex3
Transcribed Image Text:f) Test whether the number of years in college has a significant impact on income at a.05. What are the hypotheses? How do you test the hypotheses? What is the conclusion? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). B I U S Paragraph Arial 10pt A x? X2 +, Ex3
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