Applicants for a Particular Job,which Involves Extensive Travel in Spanish-Speaking

question 13

Essay

Applicants for a particular job,which involves extensive travel in Spanish-speaking countries,must take a proficiency test in Spanish.The sample data below were obtained in a study of the relationship between the numbers of years applicants have studied Spanish and their score on the test.Using a 1% level of significance,do the data provide sufficient evidence to conclude that the slope of the regression line is not 0 and hence that number of years of study is useful as a predictor of score on the test? The regression analysis is given below.
Dependent variable is: Score
R-squared = 83.0%
s = 5.65138 with 10 - 2 = 8 degrees of freedom $$\begin{array} { l l l l l } \text { Variable } & \text { Coefficient } & \text { SE(Coeff) } & \text { t-ratio } & \text { P-value } \\\text { Constant } & 31.53333 & 6.360418 & 4.957745 & 0.00111 \\\text { Number of years } & 10.90476 & 1.744054 & 6.252538 & 0.000245\end{array}$$

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Definitions:

Price Ceilings

Legally imposed maximum prices on goods or services that aim to keep them affordable for consumers, which can lead to shortages if set below the market equilibrium.

Black Markets

Illegal trading systems where goods or services are bought and sold at prices not regulated by the government, often in violation of price controls or rationing.

Black Market

An illegal trading system where goods or services are exchanged without the authorization of the government.

Rent-Controlled Apartment

Housing units whose rent is set and regulated by a government authority, typically below the market rate to make it affordable.