The following estimated regression equation was developed relating yearly income (y in $1000s) of 30 individuals with their age (x₁) and their gender (x₂) (0 if male and 1 if female) . $\hat { y }$ = 30 + .7x₁ + 3x₂

Also provided are SST = 1200 and SSE = 384.The test statistic for testing the significance of the model is

Question

The following estimated regression equation was developed relating yearly income (y in $1000s) of 30 individuals with their age (x₁) and their gender (x₂) (0 if male and 1 if female) .

\hat { y }

= 30 + .7x₁ + 3x₂

Also provided are SST = 1200 and SSE = 384.The test statistic for testing the significance of the model is

Quizplus · Accepted Answer

The test statistic for the significance of the model is calculated using the formula F = (SSR/k) / (SSE/(n-k-1)), where SSR = SST - SSE. Here, SSR = 1200 - 384 = 816, k = 2 (number of predictors), and n = 30. Thus, F = (816/2) / (384/27) = 28.69.

The Following Estimated Regression Equation Was Developed Relating Yearly Income y^\hat { y }y^​

The Following Estimated Regression Equation Was Developed Relating Yearly Income $\hat { y }$