It Has Been Hypothesized That Overall Academic Success for College

question 62

Essay

It has been hypothesized that overall academic success for college freshmen as measured by grade point average (GPA) is a function of IQ scores, X₁, hours spent studying each week, X₂, and one's high school average, X₃. Suppose the regression equation is . The multiple standard error is 6.313 and R² = 0.826.
Which independent variable has the smallest effect on GPA?

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Definitions:

Elastic Supply Schedule

A situation where the quantity supplied of a good changes significantly when its price changes.

Marginal Revenue Product

the additional revenue generated from using one more unit of a factor of production, holding other factors constant.

Marginal Revenue Product

The supplementary earnings derived from the utilization of an additional production factor unit.

Marginal Revenue Product

The additional income generated from selling one more unit of a good or service, calculated as the extra revenue produced by the marginal unit of output.