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SCENARIO 13-15
The superintendent of a school district wanted to predict the percentage of students passing a sixth- grade proficiency test.She obtained the data on percentage of students passing the proficiency test (% Passing), mean teacher salary in thousands of dollars (Salaries), and instructional spending per pupil in thousands of dollars (Spending) of 47 schools in the state.
Following is the multiple regression output with Y = % Passing as the dependent variable,
X1 =
Salaries and
X 2 = Spending:
-Referring to SCENARIO 13-15, there is sufficient evidence that at least one of the explanatory variables is related to the percentage of students passing the proficiency test at a5% level of significance.
Highly Trained Workers
Individuals who have received extensive training and possess advanced skills in their respective fields.
Physical Capital
Physical capital refers to tangible assets used in the production of goods and services, such as machinery, buildings, and equipment.
Terms of Trade
The ratio at which a country's exports exchange for its imports, affecting the economy's health.
Heckscher-Ohlin Theorem
An economic theory stating that countries export what they can most efficiently and plentifully produce, based on their factor endowments of labor, land, and capital.
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