A Regression Model Involving 3 Independent Variables for a Sample

question 65

Essay

A regression model involving 3 independent variables for a sample of 20 periods resulted in the following sum of squares.

a.Compute the coefficient of determination and fully explain its meaning.
b.At  = 0.05 level of significance, test to determine whether or not there is a significant relationship between the independent variables and the dependent variable.

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Definitions:

Population Distributions

The spread of characteristics or values within a whole population.

Average Ages

The mean value of the ages within a specific group or dataset, calculated by adding all the ages together and dividing by the total number of ages included.

Pooled Variance

An estimate of variance across different samples or groups that assumes the underlying population variances are equal.

T-Statistic

A type of test statistic calculated to determine if a hypothesis should be accepted or rejected, commonly used in a t-test to compare means.