TABLE 14-17 Given Below Are Results from the Regression Analysis Where the Where

question 149

Multiple Choice

TABLE 14-17
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) and a dummy variable for management position (Manager: 1 = yes,0 = no) .
The results of the regression analysis are given below:
-Referring to Table 14-17,which of the following is the correct alternative hypothesis to test whether age has any effect on the number of weeks a worker is unemployed due to a layoff while holding constant the effect of the other independent variable?

• A)H₁ : β₁ = 0
• B)H₁ : β₁ ≠ 0
• C)H₁ : β₂ = 0
• D)H₁ : β₂ ≠ 0

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Definitions:

Production Process

The series of steps and activities involved in transforming raw materials into finished goods or services.

MRTS

The Marginal Rate of Technical Substitution; the rate at which a firm can substitute one input for another while keeping the level of output constant.

Marginal Productivity

Marginal productivity refers to the additional output produced as a result of adding one more unit of a specific input, keeping all other inputs constant.

Fixed-Proportion

A production scenario where the input proportions cannot be changed; each unit of output requires the same ratio of inputs.