THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose you are interested in determining the factors that influence the time required to prepare a tax return.You develop the model Y = β 0 + β 1 X 1 + β 2 X 2 + β 3

+ β 4 X 3 + β 5 X 4 + β 6 (X 1 ∙ X 4 ) + ε,where Y is the amount of time in minutes,X 1 is the income of the individual (in thousands of dollars),X 2 is the age of the individual,X 3 is the number of people living in the household,and X 4 is a dummy variable that takes the value 1 if the individual owns his or her own home.After interviewing 40 accountants,you obtained
= 17.2 + 0.38x 1 + 1.04x 2 - 0.04
+ 2.15x 3 + 0.11x 4 - 0.22(x 1 ∙ x 4 ),
= 5.3,
= 0.13,
= 0.33,
= 1.51,
= 4.7,
= 0.05,and
= 0.07.
-What are your alternative hypotheses regarding the individual coefficients in this model? Explain.

Question

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose you are interested in determining the factors that influence the time required to prepare a tax return.You develop the model Y = β 0 + β 1 X 1 + β 2 X 2 + β 3

+ β 4 X 3 + β 5 X 4  + β 6 (X 1 ∙ X 4 ) + ε,where Y is the amount of time in minutes,X 1 is the income of the individual (in thousands of dollars),X 2 is the age of the individual,X 3 is the number of people living in the household,and X 4 is a dummy variable that takes the value 1 if the individual owns his or her own home.After interviewing 40 accountants,you obtained  
= 17.2 + 0.38x 1 + 1.04x 2 - 0.04  
+ 2.15x 3 + 0.11x 4 - 0.22(x 1 ∙ x 4 ),  
= 5.3,  
= 0.13,  
= 0.33,  
= 1.51,  
= 4.7,  
= 0.05,and  
= 0.07.
-What are your alternative hypotheses regarding the individual coefficients in this model? Explain.

Quizplus · Accepted Answer

The Answer of THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose you are interested in determining the factors that influence the time required to prepare a tax return.You develop the model Y = β 0 + β 1 X 1 + β 2 X 2 + β 3

+ β 4 X 3 + β 5 X 4  + β 6 (X 1 ∙ X 4 ) + ε,where Y is the amount of time in minutes,X 1 is the income of the individual (in thousands of dollars),X 2 is the age of the individual,X 3 is the number of people living in the household,and X 4 is a dummy variable that takes the value 1 if the individual owns his or her own home.After interviewing 40 accountants,you obtained  
= 17.2 + 0.38x 1 + 1.04x 2 - 0.04  
+ 2.15x 3 + 0.11x 4 - 0.22(x 1 ∙ x 4 ),  
= 5.3,  
= 0.13,  
= 0.33,  
= 1.51,  
= 4.7,  
= 0.05,and  
= 0.07.
-What are your alternative hypotheses regarding the individual coefficients in this model? Explain.