A Sample of General Mills Employees Was Studied to Determine

question 5

Multiple Choice

A sample of General Mills employees was studied to determine their degree of satisfaction with their present life. A special index, called the index of satisfaction, was used to measure satisfaction. Six factors were studied: age at the time of first marriage (X₁) , annual income (X₂) , number of children living (X₃) , value of all assets (X₄) , status of health in the form of an index (X₅) , and the average number of social activities per week (X₆) . Suppose the multiple regression equation is: Y' = 16.24 + 0.017X₁ + 0.00028X₂ +42X₃ + 0.0012X₄ + 0.09X₅ + 26.8X₆.
Explain the meaning of b₆.

• A) For each additional social activity per week, their satisfaction index is expected to increase by 26.8 points.
• B) For each additional social activity per week, their satisfaction index is expected to increase by 2.68 points.
• C) For each additional10 points on the health status index, their satisfaction index is expected to increase by 0.9 points.
• D) For each additional$10,000 in assets, their satisfaction index is expected to increase by 12 points.
• E) For each additional living child, their satisfaction index is expected to increase by 42 points.

Recognize the role of employer-provided benefits and services in reducing costs for employees.

Identify the trends in the value of benefits and services relative to direct pay.

Comprehend the objectives and impact of employee benefits on organizational goals and costs.

Understand the legal framework and regulations governing employee benefits and services.

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Definitions:

Assert Comparisons

Making statements that establish similarities or differences between two or more items.

Comparative Reasoning

A type of reasoning that involves comparing different cases or examples to draw conclusions.

Harvest Wheat

The process of gathering ripe wheat crops from the fields, which involves cutting, bundling, threshing, and preparing the wheat for consumption or sale.

Legal Precedent

A legal case that establishes a principle or rule that a court or other judicial body utilizes when deciding subsequent cases with similar issues or facts.