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.
Answer:
$123.25
Step-by-step explanation:
A selling price reflecting a 45% markup can be found by multiplying the wholesale price ($85) by (1 + 0.45), or 1.45:
1.45($85) = $123.25
Answer:
5.9 years
Step-by-step explanation:
We believe a better representation of the compound interest formula is ...
We want to find the value of t for P=1 and V(t)=2. We are told n=4, so the formula becomes ...
circurference of gear = 2πr
= 2π(10)
= 62.83185307 inches
= 62.83 inches (4sf)
