Unformatted text preview: Part I Objective Question Question 1 A Question 2 C Question 3 Sub part 3.1 C 3.2 C 3.3 B 3.4 D 3.5 D Part II Part A The slope is 0.538 and it implies that for 1 increase Hrwage, the tenue is increased by 0.538 Part B Variance 46.05 Part C R2 0.0823 The coefficient of determination or R square tell us that 8.23% of the variations in Hrwage are influenced by tenure. Part D Null Alternative Hypothesis test statistic 2.015 critical value 2.0141 Part E Null Alternative Hypothesis test statistic 2.0150 critical value 2.3189 Question 2 Part A The average hourly wage of worker is $18,906. As this is the constant term. As Union is equal to 0 for non union worker, therefore the wages is always equal to $18.906 Part B The wages for union worker is $18.906 + 2.273 = 21.179 Part C Confidence interval 12.17382 19.31018 Interval 12.17381,19.31018 Part D Question 3 Impact of 1 increase in cost Amount Part A Reputation slope for cost 3985.2 Increase 3985.2 Size slope0.2 Decrease0.2 Dpriv slope 8406.79 Increase8406....
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 Spring '10
 RCOLLIER
 Null hypothesis, Statistical hypothesis testing, critical value, Dpriv slope, Dlibart Slope

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