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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
Explain the chain reactions (primary and secondary effects) and show graphs of the following variables: (i) taxes increases, (ii) government spending increases and (iii)repo ra
The short-run supply of a certain crop is perfectly inelastic, because it has already been harvested and no more of it can be grown until the next growing season. In order to raise
the circular flow of income in an governed economy
Consider an economy that produces only three types of fruit: apples, oranges & bananas. In the base year the production & price data are as follows: Fruit
The production function is Q=3LK
ACCOUNTING SYSTEM-EXAMPLE III Now suppose the Jam Co. manufactures some herbal chemicals and flavors which it sells partly to Extracts Co., partly to Bottling Co., some are co
What is the difference between economic growth and economic development? Growth is only individual dimension of development. Economic development is a complicated multi-dimensio
GKX Industries expects sales of its hydraulic seals (in inch and metric sizes) to increase according to the cash flow sequence $70+4k, where k is in years and cash flow is in $1000
Describe the differences between the substitution effect of a wage increase and the income effect of a wage increase.
importance and limitation of principle of acceleration
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