The Following Estimated Regression Equation Was Developed Relating Yearly Income

question 5

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
​
Also provided are SST = 1200 and SSE = 384.At the 5% level, the model

• A) is significant.
• B) is not significant.
• C) would be significant if the sample size was larger than 30.
• D) has significant individual parameters.

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Definitions:

Rental Days

The number of days a property is rented out or available for rent during a specific period.

Personal/Rental Property

Personal/rental property refers to property owned by an individual that can be used for personal use or rented out, affecting tax treatments and deductions.

Schedule A

A form used in the US tax system for itemizing allowable deductions against income, such as medical expenses, taxes paid, and charitable contributions.

Personal/Rental Property

Property that can be used for personal purposes or rented out to generate income, impacting the treatment of expenses and income for tax purposes.