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A Regression Model Relating the Yearly Income (Y),age (X1),and the Gender

question 39

Essay

A regression model relating the yearly income (Y),age (X1),and the gender of the faculty member of a university (X2 = 1 if female and 0 if male)resulted in the following information. A regression model relating the yearly income (Y),age (X<sub>1</sub>),and the gender of the faculty member of a university (X<sub>2</sub> = 1 if female and 0 if male)resulted in the following information.        a.Is gender a significant variable? b.Determine the multiple coefficient of determination.
A regression model relating the yearly income (Y),age (X<sub>1</sub>),and the gender of the faculty member of a university (X<sub>2</sub> = 1 if female and 0 if male)resulted in the following information.        a.Is gender a significant variable? b.Determine the multiple coefficient of determination.
a.Is gender a significant variable?
b.Determine the multiple coefficient of determination.


Definitions:

Profit

The financial gain made in a transaction, calculated as the difference between the revenue earned and the costs incurred.

Drug Patent

Legal protection granted to the inventor of a new pharmaceutical, allowing exclusive rights to manufacture and sell the drug for a certain period.

Marginal Revenue

The additional revenue that a producer receives from selling one more unit of a good or service.

Marginal Cost

The cost incurred by producing one additional unit of a good or service.

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