Multiple regression analysis was used to study how an individual's income (Y in thousands of dollars)is influenced by age (X₁ in years),level of education (X₂ ranging from 1 to 5),and the person's gender (X₃ where 0 =female and 1=male).The following is a partial result of a computer program that was used on a sample of 20 individuals. a.Compute the coefficient of determination. b.Perform a t test and determine whether or not the coefficient of the variable "level of education" (i.e. ,X₂)is significantly different from zero.Let $\alpha$ = 0.05. c.At $\alpha$ = 0.05,perform an F test and determine whether or not the regression model is significant. d.As you note the coefficient of X₃ is -0.510.Fully interpret the meaning of this coefficient.

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The Answer of Multiple regression analysis was used to study how an individual's income (Y in thousands of dollars)is influenced by age (X₁ in years),level of education (X₂ ranging from 1 to 5),and the person's gender (X₃ where 0 =female and 1=male).The following is a partial result of a computer program that was used on a sample of 20 individuals. a.Compute the coefficient of determination. b.Perform a t test and determine whether or not the coefficient of the variable "level of education" (i.e. ,X₂)is significantly different from zero.Let $\alpha$ = 0.05. c.At $\alpha$ = 0.05,perform an F test and determine whether or not the regression model is significant. d.As you note the coefficient of X₃ is -0.510.Fully interpret the meaning of this coefficient.

Multiple Regression Analysis Was Used to Study How an Individual's α\alphaα

Multiple Regression Analysis Was Used to Study How an Individual's $\alpha$