Question: Based on data from 63 counties the following model was

Based on data from 63 counties, the following model was estimated by least squares:
where
y` = growth rate in real gross domestic product
x1 = real income per capita
x2 = average tax rate, as a proportion of gross national product
The numbers in parentheses under the coefficients are the estimated coefficient standard errors.
a. Test against a two-sided alternative the null hypothesis that β1 is 0. Interpret your result.
b. Test against a two-sided alternative the null hypothesis that β2 is 0. Interpret your result.
c. Interpret the coefficient of determination.
d. Find and interpret the coefficient of multiple correlation.



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  • CreatedJuly 07, 2015
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