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In a regression model involving 46 observations, the following estimated regression equation was obtained.
=17+4X1 - 3X2+8X3+5X4+8X5
For this model, SST = 3410 and SSE = 510.
a. Compute the coefficient of determination.
b. Perform an F test and determine whether or not the regression model is significant.
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The policy or process by which income is transferred from some individuals to others through mechanisms like taxation, social welfare programs, or other governmental actions to reduce income inequalities.
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