Twenty-one executives in a large corporation were randomly selected to study the effect of several factors on annual salary (expressed in $000s). The factors selected were age, seniority, years of college, number of company divisions they had been exposed to, and the level of their responsibility. The results of the regression analysis follow: Test the hypothesis that the regression coefficient for education is equal to 0 at the 0.05 significance level. Report the degrees of freedom, the critical value, the test statistic, and your decision.

Question

Twenty-one executives in a large corporation were randomly selected to study the effect of several factors on annual salary (expressed in $000s). The factors selected were age, seniority, years of college, number of company divisions they had been exposed to, and the level of their responsibility. The results of the regression analysis follow:  Test the hypothesis that the regression coefficient for education is equal to 0 at the 0.05 significance level. Report the degrees of freedom, the critical value, the test statistic, and your decision.

Quizplus · Accepted Answer

The Answer of Twenty-one executives in a large corporation were randomly selected to study the effect of several factors on annual salary (expressed in $000s). The factors selected were age, seniority, years of college, number of company divisions they had been exposed to, and the level of their responsibility. The results of the regression analysis follow:  Test the hypothesis that the regression coefficient for education is equal to 0 at the 0.05 significance level. Report the degrees of freedom, the critical value, the test statistic, and your decision.

Twenty-One Executives in a Large Corporation Were Randomly Selected to Study