Answer:
Step-by-step explanation:
In the model
Log (salary) = B0 + B1LSAT +B2GPA +B3log(libvol) +B4log(cost)+B5 rank+u
The hypothesis that rank has no effect on log (salary) is H0:B5 = 0. The estimated equation (now with standard errors) is
Log (salary) = 8.34 + .0047 LSAT + .248 GPA + .095 log(libvol)
(0.53) (.0040) (.090) (.033)
+ .038 log(cost) – .0033 rank
(.032) (.0003)
n = 136, R2 = .842.
The t statistic on rank is –11(i.e. 0.0033/0.0003), which is very significant. If rank decreases by 10 (which is a move up for a law school), median starting salary is predicted to increase by about 3.3%.
(ii) LSAT is not statistically significant (t statistic ≈1.18) but GPA is very significance (t statistic ≈2.76). The test for joint significance is moot given that GPA is so significant, but for completeness the F statistic is about 9.95 (with 2 and 130 df) and p-value ≈.0001.
<em>CA </em>⁻¹ is undefined because there are more columns in <em>A </em>⁻¹ than there are rows in <em>C</em>.
Percent markup=amountmarkedup/original times 100
amountmarkedup=25-13.5.5=11.5
original=13.5
percent markup=11.5/13.5 times 100=0.85 times 100=85% markup
Answer: c divided by 3=15.5
Step-by-step explanation:
Plug in 3 for n, since you're looking for the third term.
T(1) = 3(1) - 1 = 2
T(2) = 3(2) - 1 = 5
T(3) = 3(3) - 1 = 8
It would be 8.
