Exhibit 16

question 46

Essay

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 = 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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Definitions:

Functional Qualities

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Sociological Qualities

Attributes of a society or social group, such as its norms, values, behaviors, and demographic characteristics.

Antecedent Attributes

Features or characteristics that consumers consider before making a purchasing decision, often based on prior experience or inherent qualities of the product.

Store's Image

The public perception or identity of a retail store, shaped by its aesthetics, branding, and consumer experiences.