SCENARIO 14-17 Given below are results from the regression analysis where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Unemploy)and the independent variables are the age of the worker (Age)and a dummy variable for management position (Manager: 1 = yes, 0 = no). The results of the regression analysis are given below:
-Referring to Scenario 14-17, you can conclude that, holding constant the effect of the other independent variable, age has no impact on the mean number of weeks a worker is unemployed due to a layoff at a 5% level of significance if we use only the information of the 95% confidence interval estimate for the effect of a one year increase in age on the mean number of weeks a worker is unemployed due to a layoff.

Question

SCENARIO 14-17 Given below are results from the regression analysis where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Unemploy)and the independent variables are the age of the worker (Age)and a dummy variable for management position (Manager: 1 = yes, 0 = no). The results of the regression analysis are given below: 
-Referring to Scenario 14-17, you can conclude that, holding constant the effect of the other independent variable, age has no impact on the mean number of weeks a worker is unemployed due to a layoff at a 5% level of significance if we use only the information of the 95% confidence interval estimate for the effect of a one year increase in age on the mean number of weeks a worker is unemployed due to a layoff.

Quizplus · Accepted Answer

We cannot conclude that age has no impact on the mean number of weeks a worker is unemployed due to a layoff at a 5% level of significance based solely on the confidence interval estimate. We need to also look at the p-value for the coefficient of Age in the regression analysis. The scenario does not provide information on the specific values of the 95% confidence interval estimate for the effect of a one year increase in age on the mean number of weeks a worker is unemployed due to a layoff. Therefore, it is not possible to conclude whether age has an impact or not on the mean number of weeks unemployed at a 5% level of significance.

SCENARIO 14-17 Given Below Are Results from the Regression Analysis