The Following Estimated Regression Equation Was Developed Relating Yearly Income $\hat { y }$

question 76

Multiple Choice

The following estimated regression equation was developed relating yearly income (y in $1000s) of 30 individuals with their age (x₁) and their gender (x₂) (0 if male and 1 if female) . $\hat { y }$ = 30 + .7x₁ + 3x₂

Also provided are SST = 1200 and SSE = 384.The multiple coefficient of determination is

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Definitions:

Expected Value

A statistical concept representing the average outcome of a random variable over a large number of experiments or trials.

Binomial Probability Distribution

A probability distribution that summarizes the likelihood that a value will take one of two independent values under a given set of parameters or conditions.

Expected Number

A statistical term referring to the average value or mean of a random variable, calculated as the sum of all possible values each multiplied by its probability of occurrence.

Unbiased Coin

A term used to describe a fair coin in which each toss is equally likely to come up heads or tails.