Instruction 13-15
a Financial Analyst Wanted to Examine the Relationship

question 17

Short Answer

Instruction 13-15
A financial analyst wanted to examine the relationship between salary (in $1,000)and 4 variables: age (X₁ = Age),experience in the field (X₂ = Exper),number of degrees (X₃ = Degrees),and number of previous jobs in the field (X₄ = Prevjobs).He took a sample of 20 employees and obtained the following Microsoft Excel output:
SUMMARY
Regression Statistics
$\begin{array} { l l } \text { Multiple R } & 0.992 \\ \text { R Square } & 0.984 \\ \text { Adj. R Square } & 0.979 \\ \text { Std. Error } & 2.26743 \\ \text { Observations } & 20 \end{array}$
ANOVA
$\begin{array} { l l l l l l } & \boldsymbol { d f } & \text { SS } & \text { MS } & \boldsymbol { F } & \text { Signif } \boldsymbol { F } \\ \text { Regression } & 4 & 4609.83164 & 1152.45791 & 224.160 & 0.0001 \\ \text { Residual } & 15 & 77.11836 & 5.14122 & & \\ \text { Total } & 19 & 4686.95000 & & & \end{array}$
$\begin{array} { l l l l l } & \text { Coeff } & \text { StdError } & \boldsymbol { t } \text { Stat } & \boldsymbol { P } \text {-Value } \\ \text { Intercept } & - 9.611198 & 2.77988638 & - 3.457 & 0.0035 \\ \text { Age } & 1.327695 & 0.11491930 & 11.553 & 0.0001 \\ \text { Exper } & - 0.106705 & 0.14265559 & - 0.748 & 0.4660 \\ \text { Degrees } & 7.311332 & 0.80324187 & 9.102 & 0.0001 \\ \text { Prevjobs } & - 0.504168 & 0.44771573 & - 1.126 & 0.2778 \end{array}$ Note: Adj.R Square = Adjusted R Square;Std.Error = Standard Error
-Referring to Instruction 13-15,the analyst wants to use a t test to test for the significance of the coefficient of X₃.The p-value of the test is ________.

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Definitions:

Preponderance Of The Evidence

The standard of proof in civil trials, requiring that the evidence presented by one side be more convincing than the evidence of the other side.

Pretrial Motion

A document filed by an attorney or party in a case, requesting the court for a decision on a particular issue before the trial officially begins.

Motion For A Directed Verdict

A motion, also known as a motion for judgment as a matter of law in the federal courts, requesting that the court grant a judgment in favor of the party making the motion on the ground that the other party has not produced sufficient evidence to support his or her claim.

Speedy Trial Motion

A legal motion filed to ensure a defendant is brought to trial within the legally mandated time frame.