A Manager at a Local Bank Analyzed the Relationship Between

question 97

Multiple Choice

A manager at a local bank analyzed the relationship between monthly salary and three independent variables: length of service (measured in months) ,gender (0 = female,1 = male) and job type (0 = clerical,1 = technical) .The following ANOVA summarizes the regression results: Based on the ANOVA,the multiple coefficient of determination is

• A)5.957%
• B)59.3%
• C)40.7%
• D)cannot be computed

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Definitions:

Loanable Funds

The money available for borrowing. The market for loanable funds is where borrowers and lenders interact, determining the market interest rate.

Interest Rate

The percentage charged on borrowed money, paid by the borrower to the lender, or earned through deposit or investment, typically expressed on an annual basis.

Loanable Funds

The supply of capital available for borrowing, influenced by interest rates and financial markets, which facilitates investments and purchases.

National Saving

The total amount saved by a country's economy, calculated as the sum of private and public savings, often representing the difference between national income and consumption.