Question 5 Below is output from a regression model for income based on sever Model Model 1 R 258 R Square 067 060 a Pred

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Question 5 Below Is Output From A Regression Model For Income Based On Sever Model Model 1 R 258 R Square 067 060 A Pred 1 (60.27 KiB) Viewed 52 times

Question 5 Below is output from a regression model for income based on sever Model Model 1 R 258 R Square 067 060 a Predictors: (Constant, Highest degree, Highest year school completed, mother, Highest year school completed, spouse, Highest year school completed, father, Highest year of school completed Model Model Summary (Constant Highest year of school completed Highest year school completed, father Adjusted R Square Sum of Squares 301.215 4227 299 4528.513 ANOVA 7325 - 004 Unstandardized Coefficie D Highest year school completed, mother Highest year school completed, spouse Highest degree a Dependent Variable: Respondent's income Regression Residual Total a Dependent Variable. Respondents income D. Predictors (Constant, Highest degree, Highest year school completed, mother, Highest year school completed, spouse, Highest year school completed, father, Highest year of school completed 040 at -020 5 670 675 039 263 Std Emor of the Estimate Lovr Mean Square 60.243 6.309 960 067 033 2.512 p 040 045 102 F 9.548 Standardized Coeficients Deta t €256 096 -1.083 062 -035 -704 1.222 Sig 321 1.373 000p.value Dig 000 279 222 482 393 170 Colinearty Statistics W 100 538 630 170 5.937 1.785 1.588 5617 Is the overall model statistically significant? Use the number from the output to justify your response. [2 points] yes the overall model statistically significant because the UIF of Highest year of School completed is 5.937 Yes, p-value=0.000 0.0002.01, 0-05, 0.01 Generally, we would expect that as education for an individual (contained in the variable Highest year of school completed] increases that income would increase. What are Ho and Ha for the coefficient for "Highest year of school completed"? What is the statistical conclusion for the significance test of Highest year of school completed? [6 points) HOPO Highest year of school completed unstandardized 4 Ha Bo Shus the largest impact. Fail to reject Ho for Ha 276.01,0.05,0.01 Assuming the above is true, does the slope for "Highest year of school completed" from this regression make sense? Why or why not? (6 points) No, because the slope is negative (-0.094) 6 Page 4 of 5