We Want to Test Whether or Not the Addition of 3

question 53

Essay

We want to test whether or not the addition of 3 variables to a model will be statistically significant.You are given the following information based on a sample of 25 observations.

The equation was also estimated including the 3 variables.The results are

a.State the null and alternative hypotheses.
b.Test the null hypothesis at the 5% level of significance.

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Definitions:

Socioeconomic Status

A combined measure of an individual's or family's economic and social position in relation to others, based on income, education, and occupation.

Ethnic/Racial Identity

A person's sense of belonging to a specific ethnic or racial group, including the cultural traditions, language, and heritage associated with that group.

Cultural Sensitivity

The awareness, understanding, and respect for cultural differences that allows individuals to communicate and interact effectively across cultures.

Cross-Racial

Involving or relating to people of different racial backgrounds.