TABLE 14-17 Model 2 Is the Regression Analysis Where the Dependent Variable

question 349

True/False

TABLE 14-17


Model 2 is the regression analysis where the dependent variable is Unemploy and the independent variables are
Age and Manager. The results of the regression analysis are given below:

-Referring to Table 14-17 Model 1, the alternative hypothesis H₁: At least one of βⱼ ≠ 0 for j = 1, 2, 3, 4, 5, 6 implies that the number of weeks a worker is unemployed due to a layoff is affected by all of the explanatory variables.

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Definitions:

Average Product

The output per unit of input, such as labor or capital, calculated by dividing total output by the total quantity of the input.

Marginal Product

The additional output produced as a result of using one more unit of a particular input, holding all other inputs constant.

Capital/Labor Ratio

The capital/labor ratio is a measure used in economics to indicate the amount of capital relative to the quantity of labor used in the production process.

Labor Productivity

The measure of the economic output produced per unit of labor input.