Multiple Regression Analysis Was Used to Study How an Individual's $\alpha$

Multiple regression analysis was used to study how an individual's income (Y in thousands of dollars)is influenced by age (X₁ in years),level of education (X₂ ranging from 1 to 5),and the person's gender (X₃ where 0 =female and 1=male).The following is a partial result of a computer program that was used on a sample of 20 individuals.

a.Compute the coefficient of determination.
b.Perform a t test and determine whether or not the coefficient of the variable "level of education" (i.e. ,X₂)is significantly different from zero.Let $\alpha$ = 0.05.
c.At $\alpha$ = 0.05,perform an F test and determine whether or not the regression model is significant.
d.As you note the coefficient of X₃ is -0.510.Fully interpret the meaning of this coefficient.

Correct Answer:

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a.0.4286
b.t = 4.84;p-value < .01;reject...

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