Exhibit 15-8 The Following Estimated Regression Model Was Developed Relating Yearly Income

question 88

Multiple Choice

Exhibit 15-8
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) . Also provided are SST = 1,200 and SSE = 384.
-Refer to Exhibit 15-8. The yearly income of a 24-year-old female individual is

• A)$19.80
• B)$19,800
• C)$49.80
• D)$49,800

Analyze and calculate revenue variances based on service delivery.

Assess the financial performance using flexible budgeting.

Distinguish between spending and activity variances.

Evaluate employee wages and salaries management in budgeting.

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Macroeconomist

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