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.

---

Definitions:

Cardiac Arrhythmia

A condition characterized by irregular heartbeats, which can lead to various complications, including heart palpitations, fainting, or more severe heart problems.

Jittery

Feeling nervous or unable to remain still, often due to anxiety, stress, or caffeine.

Crawling Out of One's Skin

An idiom often used to describe extreme anxiety, agitation, or discomfort.

Dysregulation

The inability to manage or regulate emotional responses to stimuli, often leading to inappropriate or excessive emotional reactions.