TABLE 15-6 Given Below Are Results from the Regression Analysis on 40

question 38

Short Answer

TABLE 15-6
Given below are results from the regression analysis on 40 observations where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Y) and the independent variables are the age of the worker (X₁), the number of years of education received (X₂), the number of years at the previous job (X₃), a dummy variable for marital status (X₄: 1 = married, 0 = otherwise), a dummy variable for head of household (X₅: 1 = yes, 0 = no) and a dummy variable for management position (X₆: 1 = yes, 0 = no).
The coefficient of multiple determination (R) for the regression model using each of the 6 variables Xⱼ as the dependent variable and all other X variables as independent variables are, respectively, 0.2628, 0.1240, 0.2404, 0.3510, 0.3342 and 0.0993.
The partial results from best-subset regression are given below:

-Referring to Table 15-6, what is the value of the variance inflationary factor of Job Yr?

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Definitions:

Import Quotas

Government-imposed limits on the volume of specific goods that can be imported, aimed at protecting domestic producers by controlling market supply.

Globalization

The integration of national economies into a worldwide economy.

American Consumer

An individual in the United States who purchases goods and services for personal use.

Frederic Bastiat

A 19th-century French economist and writer known for his advocacy of free trade and his witty criticisms of protectionism and socialism.