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 Income is significantly different from 0. What is the value of the relevant t-statistic?
Definitions:
Economic Life
The expected period during which an asset remains useful to a particular entity or project, often affecting its depreciation schedules.
Business Entity
An organization established as a separate legal entity for the purposes of conducting business, such as a corporation, partnership, or sole proprietorship.
Time Periods
Specific intervals or durations used for accounting and reporting purposes, such as fiscal quarters or years.
Bank Loan
A sum of money lent by a bank to a borrower at an agreed interest rate.
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