[Scenario] Suppose you are part of a research team that is studying the relationship between the age of an employee and

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Scenario Suppose You Are Part Of A Research Team That Is Studying The Relationship Between The Age Of An Employee And 1 (61.53 KiB) Viewed 112 times

[Scenario] Suppose you are part of a research team that is studying the relationship between the age of an employee and the employee's annual healthcare expenses. Your study involves a regression analysis. In your study, you also will control for other factors related to this X-Y relationship. (a) Which variable would be more appropriate to be the dependent variable? The age of an employee or the employee's annual healthcare expenses? Explain why. (4 points) (b) If you use regression analysis to study the link between the age of an employee and the employee's annual healthcare expenses, what would be your null and alternative hypotheses? Write out the HO and H1 using only words (and no mathematical symbols or equations). (4 points) (c) Suppose you test the hypotheses that you listed in part (b) and obtain a p-value equal to 8%. In words, explain what 8% means. [Note: Do not simply say reject or fail to reject HO. I want you to explain the literal meaning of a 8% p-value] (5 points).