TABLE 13-4
A real estate builder wishes to determine how house size (House) is influenced by family income (Income) , family size (Size) , and education of the head of household (School) . House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years. The builder randomly selected 50 families and ran the multiple regression. Microsoft Excel output is provided below:
-Referring to Table 13-4, suppose the builder wants to test whether the coefficient on School is significantly different from 0. What is the value of the relevant t-statistic?
Definitions:
Interest Income
Earnings from interest-bearing financial assets, such as loans, bonds, and savings accounts.
Capital Gains
The earnings obtained from an asset or investment when the sale price is higher than the initial buying price.
Marginal Tax Rates
The amount of tax paid on an additional dollar of income, which varies according to the income bracket of the taxpayer.
Provincial Tax Brackets
These are income range segments established by provincial governments in Canada, where each range is taxed at a specific rate, affecting how much income tax a person pays based on their income.
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