In a Multiple Regression Problem Involving Two Independent Variables X₁

question 29

Multiple Choice

In a multiple regression problem involving two independent variables X₁ and X₂,what does it mean if the value of b₁ is 3.2?

• A)The relationship between X₁ and Y is significant.
• B)The estimated value of Y increases by an average of 3.2 units for each unit increase of X₁,holding X₂ constant.
• C)The estimated value of Y increases approximately by 3.2 units for each unit increase of X₂,holding X₁ constant.
• D)The estimated average value of Y is 3.2 units when X₁ = 0.

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Definitions:

U-5 Measure

The U-5 Measure is a broader definition of unemployment than the standard, including not only those actively seeking work but also discouraged workers and others marginally attached to the labor force.

Marginally Attached Workers

Individuals who are not in the labor force but want and are available to work, and have looked for a job sometime in the past 12 months but not in the four weeks preceding the survey.

Spells Of Unemployment

Periods of time during which an individual is unemployed but actively seeking work.

Frictional Unemployment

Unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills