THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 167

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose you are interested in determining the factors that influence the time required to prepare a tax return,and developed the model: Y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄ + ε,where Y is the amount of time (in minutes),X₁ is the income of the individual (in thousands of dollars),X₂ is the age of the individual,X₃ is the number of people living in the household,and X₄ is a dummy variable that takes the value 1,if the individual owns his or her own home.After interviewing 40 accountants,you get the following results:
= 17.2 + 3.8x₁ - 1.04x₂ + 2.15x₃ + 15.1x₄,
= 5.3,
= 0.13,
= 0.33,
= 1.51,
= 4.7,SSR = 164.2,SSE = 200.7,and R² = 0.45.
-Test for H₀ : β₁ = β₂ = β₃ = β₄ = ₀ and interpret your result.

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Definitions:

Color Blindness

Color blindness is a genetic or acquired visual disorder characterized by an inability to distinguish between some or all colors.

Glossopharyngeal Nerve

A cranial nerve that plays a key role in swallowing and the taste sensation of the posterior third of the tongue.

Olfactory Perception

The sense of smell, a sensory process by which odors are detected and identified by the olfactory system.

Secondary Olfactory Areas

Brain regions involved in the processing of complex aspects of olfaction, such as odor identification and discrimination, beyond primary olfactory areas.