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Exhibit 16

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Exhibit 16.6.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. Exhibit 16.6.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.   Refer to Exhibit 16.6.For the cubic model,Debt = β<sub>0</sub> + β<sub>1</sub>Age + β<sub>2</sub>Age<sup>2</sup>+ β<sub>3</sub>Age<sup>3</sup> + ε,the following Excel partial output is available.What is the conclusion when testing the individual significance of Age<sup>3</sup>? Refer to Exhibit 16.6.For the cubic model,Debt = β0 + β1Age + β2Age2+ β3Age3 + ε,the following Excel partial output is available.What is the conclusion when testing the individual significance of Age3?


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