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Thirty Employed Single Individuals Were Randomly Selected to Examine the Relationship

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Thirty employed single individuals were randomly selected to examine the relationship between their age (Age)and their credit card debt (Debt)expressed as a percentage of their annual income.Three polynomial models were applied and the following table summarizes Excel's regression results. Thirty employed single individuals were randomly selected to examine the relationship between their age (Age)and their credit card debt (Debt)expressed as a percentage of their annual income.Three polynomial models were applied and the following table summarizes Excel's regression results. What is the value of the test statistic for testing H<sub>0</sub>: β<sub>2</sub> = β<sub>3</sub> = 0 against H<sub>A</sub>: β<sub>2</sub> ≠ 0 or β<sub>3</sub> ≠ 0 in the model Debt = β<sub>0</sub> + β<sub>1</sub>Age + β<sub>2</sub>Age<sup>2</sup>+ β<sub>3</sub>Age<sup>3 </sup>+ ε ? What is the value of the test statistic for testing H0: β2 = β3 = 0 against HA: β2 ≠ 0 or β3 ≠ 0 in the model Debt = β0 + β1Age + β2Age2+ β3Age3 + ε ?

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If in the cubic regression model y = β0 +...

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