A Regression Model with One Independent Variable, X₁, Resulted in an SSE

question 32

Essay

A regression model with one independent variable, x₁, resulted in an SSE of 50. When a second independent variable, x₂, was added to the model, the SSE was reduced to 40. At α = 0.05, determine if x₂ contributes significantly to the model. The sample size for both models was 30.

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Definitions:

Skills-based Immigration

An immigration policy that favors applicants with skills, qualifications, and experience that are in demand in the receiving country.

Marginal Benefit (MB)

The extra advantage gained by using an additional unit of a product or service.

Marginal Cost (MC)

The financial cost of creating an additional unit of a product or service.

Prison Rates

The number of individuals incarcerated within a prison system per 100,000 population in a specific geographic area.