Thirty-Four Observations of a Dependent Variable (Y) and Two Independent

question 74

Essay

Thirty-four observations of a dependent variable (Y) and two independent variables resulted in an SSE of 300. When a third independent variable was added to the model, the SSE was reduced to 250. At 95% confidence, determine whether or not the third independent variable contributes significantly to the model.

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Definitions:

Median

The middle value in a dataset when it is ordered from smallest to largest, or the mean of the two middle values if the dataset has an even number of observations.

Distribution Shape

Refers to the geometric arrangement of data points in a distribution, common shapes include normal, skewed, or bimodal distributions.

Mean Number

The arithmetic average of a set of values, calculated by dividing the sum of all values by the number of values.

Median Salary

The middle value of salaries when they are arranged in ascending or descending order, effectively dividing the data set into two equal halves.