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A manager at a local bank analyzed the relationship between monthly salary and three independent variables: length of service (measured in months), gender (0 = female, 1 = male) and job type (0 = clerical, 1 = technical). The following ANOVA summarizes the regression results: Df Ss Ms F Regression 3 1004346.771 334782.257 5.96 Residual 26 1461134.596 56197.48445 Total 29 2465481.367 56197.48445 Coefficients Standard Error T Stat P-Value Intercept 784.92 322.25 2.44 0.02 Service 9.19 3.20 2.87 0.01 Gender 222.78 89.00 2.50 0.02 Job -28.21 89.61 -0.31 0.76 In the regression model, which of the following are dummy variables? (a) Intercept (b) Service (c) Service and gender (d) Gender and job
Q. What is Labor Market? Labor market in the IS-LM model is the same as in cross model. Hence the IS-LM model is only applicable if profit-maximizing quantity of L would result
Suppose that Lilistan has two types of citizens: low-income citizens (income = $20,000) and high-income citizens (income = $80,000). Interest income is currently taxed and each typ
Table below shows the descriptive statistics which have been condensed from the data sheet for the period 1987 Q4 to 2011 Q3. GDP (%) Real Exchan
The monetary system in any economy facilitates trade and allows people to trade more efficiently, as compared to a barter economy. In the United States, the monetary authority is t
Question 1: Consider a closed economy with no government sector in which consumption (C) is related to income (Y) by the equation: C = A + bY (a) What is the marginal pr
Q. Determination of GDP in the cross model? In the cross model, GDP is determined as the solution to the equation Y D (Y) = Y We may explain
Explain how inflation unemployment trade-off is not feasible under adaptive expectation.MEC002
In 1 to 2 sentences respond to the following comment. "Cleaning your own house is not counted in gross domestic product because it does not represent economic production."
Financing of Fiscal Deficit: Since the size of balanced budget of the multiplier is small, it is not for all time possible to get the needed demand expansion by raising the exp
Firms in the circular flow We divide all firms into 3 categories: F R comprises all firms which acquire raw material (farm products, iron ore and so on), F H all those that p
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