The Following Estimated Regression Equation Was Developed Relating Yearly Income

question 26

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) . ​ = 30 + .7x₁ + 3x₂​
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Also provided are SST = 1200 and SSE = 384.If we want to test for the significance of the model, the critical value of F at α = .05 is

• A) 3.33.
• B) 3.35.
• C) 3.34.
• D) 2.96.

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Definitions:

Eliminated Costs

Expenses removed from a budget or accounting records, often due to cost-cutting measures.

Constrained Resource

A factor within a production process that limits the output or efficiency, such as machinery capacity or raw material supply.

Contribution Margin

The amount remaining from sales revenue after variable expenses are deducted, indicating how much revenue is contributing to fixed costs and profit.

Automated Factory

A production facility that relies heavily on automated processes and machinery to manufacture goods with minimal human intervention.