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TABLE 14-16
The superintendent of a school district wanted to predict the percentage of students passing a sixth-grade proficiency test. She obtained the data on percentage of students passing the proficiency test (% Passing), daily average of the percentage of students attending class (% Attendance), average teacher salary in dollars (Salaries), and instructional spending per pupil in dollars (Spending) of 47 schools in the state.
Following is the multiple regression output with Y = % Passing as the dependent variable, X1 = % Attendance, X2 = Salaries and
X3 = Spending:
ANOVA
-Referring to Table 14-16, what are the lower and upper limits of the 95% confidence interval estimate for the effect of a one dollar increase in instructional spending per pupil on average percentage of students passing the proficiency test?
Real GDP
Gross domestic product adjusted for changes in the price level, providing a more accurate picture of an economy's size and growth.
Consumption
the process by which goods and services are used up by individuals or groups, typically considered the end-use in economic production cycles.
Investment
The act of allocating resources, usually money, with the expectation of generating an income or profit.
Economic Forecasters
Experts who predict future economic conditions based on various indicators and models to guide investors, businesses, and policy making.
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