THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 241

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 H₀ : β₁ = 0 against H₁ : β₁ ≠ 0 and interpret your result.

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Definitions:

Domestic Responsibilities

Tasks and duties related to the management and upkeep of a household, including child care, cooking, cleaning, and financial management.

Hochschild and Machung

Arlie Hochschild and Anne Machung are authors known for their work on family, work, and gender roles, particularly "The Second Shift."

Remote Acquaintances

Individuals who are known to someone but with whom they have little to no direct, personal interaction, often maintained through digital or indirect communication.

Job-Hunting

The process of actively seeking employment opportunities.