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Author Question: Calculate P(A1 B1 ). What will be an ideal response?[br][br][b][color=green]Question ... (Read 153 times)

stock

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on: Jun 24, 2018
Calculate P(A1  B1 ).
 
  What will be an ideal response?

Question 2

Interpret the estimated regression coefficient b1.
 
  What will be an ideal response?


chevyboi1976

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Reply #1 on: Jun 24, 2018
Answer to Question 1

P(A1  B1 ) = P(A1  B1 ) / P(B1 ) = 0.15 / 0.60 = 0.25

Answer to Question 2

For every additional 1000 in the income of an individual, we would expect the time required to prepare a tax return to take, on average, 3.8 minutes longer, with all other independent variables in the model held constant.


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