THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 8

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The model y = β₀ + β₁X₁ + β₂X₂ + ε was fitted to a sample of 25 families in order to explain household milk consumption: where y = Milk consumption,in quarts,per week,x₁ = Weekly income,in hundreds of dollars,and x₂ = Family size.The least squares estimates of the regression parameters were b₀ = -0.03,b₁ = 0.05,and b₂ = 1.1,with coefficient standard errors
= 0.02;
= 0.38.The total sum of squares and the error sum of squares were found to be 165.8 and 66.32 respectively.
-Find 95% confidence interval for β₂.

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Definitions:

Behaviourally Anchored Rating Scale

A method of evaluating employees' performance using specific examples of behaviours tied to numerical ratings, to provide a more objective assessment.

Behaviour Observation Scale

A method used in performance management that rates employee behavior in terms of specific examples of job-relevant behavior.

Ranking Method

A method used in various contexts to arrange items or individuals in order based on certain criteria, often for evaluation or prioritization purposes.

Forced Distribution Method

A performance management system where employees are ranked in groups and forced into predetermined categories, such as top, middle, and bottom performers.