\fUAssessment 20Qs.pdf?X-Amz-Algorithm=AWS4-HMAC-SH 1/3 (b) Consider the following regression output from a sample of 51 observations. Regression model: Pay, = 12129.37 + 3.3076Spend, + wi se: R2: 0.6968 (1197.351) (0.3117) Adjusted R2: 0.6906 where Pay denotes teacher's pay and Spend denotes per-pupil expenditure. Both are in dollars ($). (i) Is the variable, Spend significant? If yes, prove the significance level. Interpret the variable too. (3 marks) (ii) Establish a 95% confidence interval for Spend. Would you reject the hypothesis that the true slope coefficient is 3.0? (4 marks) (iii) The value of R" is always higher than the value of adjusted R?. What is/are the reason(s) for the higher R value? Which R should you interpret? Justify and interpret your choice. (6 marks) (iv) Consider the following results of the Jarque-Bera test of normality. You are required to interpret the key indicators of the results. Decide if the results are reliable. Give a reason to support your answer. (4 marks) InOCK GDF No Cheating Polic....pdf O e e