Human capital theory suggests that those who have invested in higher levels of education will be able to command higher

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Human capital theory suggests that those who have invested in
higher levels of education will be able to command higher wages. A
labour economist collected data on annual wages (Y, in $'000) and
years of study (X) from a random sample of 12 employees to test
this proposition. Assuming a linear relationship between Y and X,
the labour economist used a least-squares method and found that the
Y intercept = -23.50 and the slope = 9.73. Also, the sum of
squares total (SST) and the error sum of squares (SSE) were equal
to 11132.92 and 2406.01, respectively.
Based on this information, the coefficient of determination is
equal to __________. Round your final answer to
four decimal places.
Based on this information, what is the value of the t test
statistic if you are testing the null hypothesis that there is no
linear relationship between the two variables, X and Y? Round your
final answer to two decimal places.
Based on this information, the coefficient of determination can
be interpreted as follows
78.39% of the variation in Y is explained by the variation in
X.
21.61% of the variation in X is explained by the variation in
Y.
21.61% of the variation in Y is explained by the variation in
X.
78.39% of the variation in X is explained by the variation in
Y.