Thirty Employed Single Individuals Were Randomly Selected to Examine the Relationship

question 3

Essay

Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results. For the cubic model, Debt = β₀+ β₁Age + β₂Age^{2+ β}₃Age³+ ε, the following Excel partial output is available. What is the conclusion when testing the individual significance of Age³?

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Definitions:

Medical Asepsis

Practices aimed at reducing the risk of infection and maintaining cleanliness in medical settings to prevent the spread of pathogens.

Microbial

Related to microbes.

Microbes

Microscopic organisms, including bacteria, viruses, fungi, and protozoa.

Aseptic Technique

A set of practices and procedures performed under sterile conditions to minimize the risk of infection.