TABLE 13-3
the Director of Cooperative Education at a State

question 86

Short Answer

TABLE 13-3
The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.
$$\begin{array}{l}\begin{array} { l l l } \hline \text { Student } & \text { CoopJobs } & \text { JobOffer } \\\hline 1 & 1 & 4 \\2 & 2 & 6 \\3 & 1 & 3\\4 & 0 & 1 \\\hline\end{array}\end{array}$$
-Referring to Table 13-3, the director of cooperative education wanted to test the hypothesis that the true slope was equal to 0. The denominator of the test statistic is Sb1. The value of Sb1 in this sample is _______.

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Definitions:

Complements

Goods or services that are used together, where the increase in consumption of one leads to an increase in consumption of the other.

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in the demand for the other.

Elasticity Coefficient

Refers to a numerical measurement of how responsive an economic variable is to a change in another variable.

Supply Elastic

Relates to how much the quantity supplied of a good changes in response to changes in its price.