THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 75

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.
-The two regressions y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄ + ε and y = β₀ + β₁X₁ + β₂X₂ + ε were run using a sample of 60 observations.The SSE for the first regression is 1,688.4 and is 1,823.4 for the second regression.Test H₀ : β₃ = β₄ = 0.

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Definitions:

Theory-Theory

A concept in cognitive science that suggests that individuals use internal models, or "theories," to make sense of their experiences.

Overimitate

The process of imitating actions or behaviors more precisely or more extensively than required, often observed in children.

Irrelevant Behavior

Actions or responses that do not pertain to or have any bearing on the current context or goals.

Mindlessly Copy

To imitate or replicate something without thoughtful consideration or awareness of the consequences.