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

question 137

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 p-value of the F test for the significance of the entire regression
is ________.

---

Definitions:

Entrepreneurs

Individuals who start, organize, and manage a business venture, taking on financial risks in the hope of profit.

Recognize Opportunities

The ability to identify and capitalize on situations or trends that could benefit one’s goals or business.

Social Value

The significance of an activity, organization, or initiative in contributing to the welfare or well-being of a community or society.

Common Form

A standardized or widely used version of a document, agreement, or legal form.