SCENARIO 17-3 a Financial Analyst Wanted to Examine the Relationship $\$ 1,000$

question 289

Short Answer

SCENARIO 17-3 A financial analyst wanted to examine the relationship between salary (in $\$ 1,000$ ) and 4 variables: age $\left( X _ { 1 } = \mathrm { Age } \right)$ , experience in the field $\left( X _ { 2 } = \right.$ Exper $)$ , number of degrees $\left( X _ { 3 } = \right.$ Degrees $)$ , and number of previous jobs in the field ( $X _ { 4 } =$ Prevjobs). He took a sample of 20 employees and obtained the following Microsoft Excel output:

SUMMARY OUTPUT

$\begin{array}{ll}{\text { Regression Statistics }} \\\text { Multiple R } & 0.992 \\\text { R Square } & 0.984 \\\text { Adjusted R Square } & 0.979 \\\text { Standard Error } & 2.26743 \\\text { Observations } & 20\end{array}$


$\begin{array}{lrrrrr} & d f &{\text { SS }} & \text { MS } & F & \text { Signif } F \\\text { Regression } & 4 & 4609.83164 & 1152.45791 & 224.160 & 0.0001 \\\text { Residual } & 15 & 77.11836 & 5.14122 & & \\\text { Total } & 19 & 4686.95000 & & &\end{array}$

$\begin{array}{lrrrr} & {\text { Coeff }} & \text { StdError } & {\text { Stat }} & \text { P-value } \\\text { Intercept } & -9.611198 & 2.77988638 & -3.457 & 0.0035 \\\text { Age } & 1.327695 & 0.11491930 & 11.553 & 0.0001 \\\text { Exper } & -0.106705 & 0.14265559 & -0.748 & 0.4660 \\\text { Degrees } & 7.311332 & 0.80324187 & 9.102 & 0.0001 \\\text { Prevjobs } & -0.504168 & 0.44771573 & -1.126 & 0.2778\end{array}$
-Referring to Scenario 17-3, the analyst decided to construct a 99% confidence interval for $\beta _ { 3 }$ .
The confidence interval is from ________ to ________.

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Definitions:

Double-blind Experiment

An experimental design where neither the participants nor the experimenters know who is receiving a particular treatment, preventing bias in the results.

Longitudinal

Relating to research that involves repeated observations of the same variables over short or long periods of time.

Evidence

Information or facts presented in support of an assertion, argument, or as proof of the truth of a statement.

Difficult Temperament

A behavioral consistency in individuals marked by high reactivity and a challenge in adaption to new situations.