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

question 335

True/False

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:
-True or False: Referring to Table 14-17,you can conclude that,holding constant the effect of the other independent variable,age has no impact on the mean number of weeks a worker is unemployed due to a layoff at a 5% level of significance if we use only the information of the 95% confidence interval estimate for the effect of a one year increase in age on the mean number of weeks a worker is unemployed due to a layoff.

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Definitions:

Budget Constraint

A representation of all the combinations of goods and services that a consumer can afford with a fixed income and prices.

Indifference Curve

A graph representing different bundles of goods between which a consumer is indifferent, showing combinations that give the consumer the same level of satisfaction.

Income

The amount of money or its equivalent received during a period of time in exchange for labor, goods, or services, or as profit on capital.

Indifference Curves

Graphical representations in economics showing combinations of goods among which a consumer is indifferent, helping to analyze consumer choices.