TABLE 15-6 Given Below Are Results from the Regression Analysis on 40

question 78

Short Answer

TABLE 15-6
Given below are results from the regression analysis on 40 observations where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Y) and the independent variables are the age of the worker (X₁), the number of years of education received (X₂), the number of years at the previous job (X₃), a dummy variable for marital status (X₄: 1 = married, 0 = otherwise), a dummy variable for head of household (X₅: 1 = yes, 0 = no) and a dummy variable for management position (X₆: 1 = yes, 0 = no).
The coefficient of multiple determination (R) for the regression model using each of the 6 variables Xⱼ as the dependent variable and all other X variables as independent variables are, respectively, 0.2628, 0.1240, 0.2404, 0.3510, 0.3342 and 0.0993.
The partial results from best-subset regression are given below:

-Referring to Table 15-6, what is the value of the variance inflationary factor of Married?

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Social Security Tax Rate

The rate at which income is taxed to fund the Social Security program, which provides retirement, disability, and survivorship benefits.

Paid Vacation

Employer-provided benefit that offers employees paid time off from work, allowing them personal time while still receiving their usual compensation.

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Insurance coverage that pays for medical and surgical expenses incurred by the insured, often provided by employers or purchased individually.

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Money set aside into retirement accounts, such as a 401(k) or IRA, often with tax advantages.