TABLE 14-8 A Financial Analyst Wanted to Examine the Relationship Between Salary

question 304

Short Answer

TABLE 14-8
A financial analyst wanted to examine the relationship between salary (in $1,000) and 4 variables: age (X₁ = Age), experience in the field (X₂ = Exper), number of degrees (X₃ = Degrees), and number of previous jobs in the field (X₄ = Prevjobs). He took a sample of 20 employees and obtained the following Microsoft Excel output:
-Referring to Table 14-8, the analyst wants to use a t test to test for the significance of the coefficient of X₃. For a level of significance of 0.01, the critical values of the test are ________.

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Definitions:

Unpredictable

Not able to be predicted or foreseen, indicating randomness or lack of a discernible pattern in behavior or events.

Logical

Pertaining to the use of reason or logic.

Other-race Effect

The inclination to more readily identify facial features of the race with which one is most acquainted, usually being their own.

Ingroup Bias

The tendency to favor and extend loyalty to members of one's own group over those from other groups.