TABLE 17-10 Given Below Are Results from the Regression Analysis Where the Where

question 222

True/False

TABLE 17-10
Given below are results from the regression analysis where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Unemploy)and the independent variables are the age of the worker (Age),the number of years of education received (Edu),the number of years at the previous job (Job Yr),a dummy variable for marital status (Married: 1 = married,0 = otherwise),a dummy variable for head of household (Head: 1 = yes,0 = no)and a dummy variable for management position (Manager: 1 = yes,0 = no).We shall call this Model 1.The coefficient of partial determination ( )of each of the 6 predictors are,respectively,0.2807,0.0386,0.0317,0.0141,0.0958,and 0.1201. Model 2 is the regression analysis where the dependent variable is Unemploy and the independent variables are Age and Manager.The results of the regression analysis are given below:
-True or False: Referring to Table 17-10,Model 1,we can conclude that,holding constant the effect of the other independent variables,there is a difference in the mean number of weeks a worker is unemployed due to a layoff between a worker who is married and one who is not at a 5% level of significance if we use only the information of the 95% confidence interval estimate for β₄.

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Definitions:

State of Nature

A term used in decision theory and statistics to refer to the actual but unknown condition or outcome of a particular phenomenon.

Decision Tree

A decision tree is a graphical representation used in decision analysis to display choices and their possible outcomes, including chance event outcomes, resource costs, and utility.

Opportunity Loss

The difference in value between the chosen option and the best possible option that was not chosen.

Optimal Alternative

The best or most effective option among a set of alternatives, under given conditions.