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Paragraph Styles The mortgage department of a financial institution is studying its recent loans. Of particular interest is how such factors as the value of
Paragraph Styles The mortgage department of a financial institution is studying its recent loans. Of particular interest is how such factors as the value of the home (In thousands of dollars), education level of the head of the household, age of the head of the household, and current monthly mortgage payment (in dollars) relate to family income. Part of the regression results is shown below. Coefficient Standard. Error t Stat P-value Intercept 28.1863 3.4956 8.0634 0.0000 Value 0.0317 0.0057 5.5601 0.00002 Education 0.6423 0.2824 2.2741 0.0341 Age 0.0418 0.0365 1.1464 0.2651 Mortgage 0.0011 0.0015 0.7835 0.4425 At 5% level of significance, which of the independent variable(s) in the model is(are) related to family income? Value of the home, education, age and mortgage payment Value of the home Value of the home and education Value of the home, education and age
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