Question: Based on data from sixty-three countries, the following model was estimated by least squares: y .058-052,-.005x R 17 (.019) (.042) where y x Growth rate

Based on data from sixty-three countries, the following model was estimated by least squares: y .058-052,-.005x R 17 (.019) (.042) where y x Growth rate in real gross domestic product. Real income per capita Average tax rate, as a proportion of gross national product

(a) Test against a two-sided alternative the null hypothesis that , is 0.

Interpret your result.

(b) Test against a two-sided alternative the null hypothesis that B. is 0.

Interpret your result.

(c) Interpret the coefficient of determination.

(d) Find and interpret the coefficient of multiple correlation.

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