TABLE 14-8 A Financial Analyst Wanted to Examine the Relationship Between Salary

question 151

Short Answer

TABLE 14-8
A financial analyst wanted to examine the relationship between salary (in $1,000)and 2 variables: age
(X₁ = Age)and experience in the field (X₂ = Exper).He took a sample of 20 employees and obtained the following Microsoft Excel output: Also,the sum of squares due to the regression for the model that includes only Age is 5022.0654 while the sum of squares due to the regression for the model that includes only Exper is 125.9848.
-Referring to Table 14-8,the analyst wants to use a t test to test for the significance of the coefficient of X₂.The p-value of the test is ________.

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Definitions:

Reduces Liability

This term generally refers to actions or strategies that decrease the legal responsibilities or debts of a business or individual.

Checking Account

A bank account that allows for numerous withdrawals and deposits, often used for day-to-day transactions.

Banking Section

The part of an organization or software that deals with financial transactions and account management with banks.

Receive Payments

It refers to the process of collecting money from customers or clients for goods sold or services rendered.