Exhibit 13-8
the Following Estimated Regression Model Was Developed Relating $\hat { Y }$

question 44

Multiple Choice

Exhibit 13-8
The following estimated regression model was developed relating yearly income Y in $1,000s) of 30 individuals with their age X1) and their gender X2) 0 if male and 1 if female) .
$\hat { Y }$ =30+0.7X1+3X2
Also provided are SST = 1,200 and SSE = 384.
-Refer to Exhibit 13-8. The estimated income of a 30-year-old male is

• A) $51,000
• B) $5,100
• C) $510
• D) $51

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Definitions:

Budget

An internal financial plan that forecasts expenses and income over a set period of time.