Multiple Regression Analysis Was Used to Study How an Individual's $\alpha$

question 2

Essay

Multiple regression analysis was used to study how an individual's income (Y in thousands of dollars) is influenced by age (X₁ in years), level of education (X₂ ranging from 1 to 5), and the person's gender (X₃ where 0 =female and 1=male). The following is a partial result of a computer program that was used on a sample of 20 individuals.
a.Compute the coefficient of determination.
b.Perform a t test and determine whether or not the coefficient of the variable "level of education" (i.e., X₂) is significantly different from zero. Let $\alpha$ = 0.05.
c.At $\alpha$ = 0.05, perform an F test and determine whether or not the regression model is significant.
d.As you note the coefficient of X₃ is -0.510. Fully interpret the meaning of this coefficient.

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Definitions:

Employee Empowerment

The practice of giving employees the authority, tools, and resources to make decisions and contribute to the company's success.

Delegation

The process where a manager or leader assigns tasks and responsibilities to subordinates.

Delegatees

Individuals who are assigned or delegated tasks, responsibilities, or authority by someone else.

Completion

The act of finishing or bringing something to an end or final stage, achieving all its required or planned elements.