THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 42

Short Answer

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.
-What would you expect regarding these population regression parameters?

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Definitions:

Structured Interviews

Structured interviews are a systematic method of interviewing where each candidate is asked the same set of predetermined questions in the same order, to ensure consistency and comparability of responses.

Banding

A strategy in human resources that groups jobs into categories or bands based on similar roles, responsibilities, or levels of complexity.

Underrepresented Group

Populations or demographic groups that have smaller representations in specific areas or industries compared to their proportions in the general population.

High Performance

Relating to activities, organizations, teams, or individuals that consistently achieve superior outcomes or exceed standard metrics of success.