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es Check My Work (1 remaining) A study investigated the relationship between audit delay (the length of time from a company's fiscal year-end to the date of the auditor's report) and variables that describe the client and the auditor. Some of the independent variables that were included in this study follow: Industry A dummy variable coded 1 If the firm was an industrial company or if the firm was a bank, savings and loan, or insurance company Public A dummy variable coded 1 if the company was traded on an organized exchange or over the counters otherwise coded 0 Quality A measure of overall quality of internal controls, as judged by the auditor, on a 5-point scale ranging from "virtually nana" (1) to excellent (5) Finished A measure ranging from 1 to 4, as judged by the auditor, whitre 1 indicates all work performed subsequent to year-end" and 4 indicates *most work performed prior to year-end." Click on the datafile logo to reference the data DATA file A sample of 40 companies provided the following data; Delay (Days) Industry Public Quality 62 0 3 3 54 0 0 2 Finished 0 3 1 0 1 2 71 0 1 1 2 91 0 0 1 1 62 0 0 61 0 0 2 69 0 Delay (Days) Industry Public Finished Quality 3 62 0 0 1 45 0 1 3 3 54 0 0 2 71 0 1 1 91 0 0 1 1 62 0 0 4 4 61 0 0 3 69 0 1 5 2 80 0 0 1 52 0 0 5 3 NA NNW N N N N N N N N N N N N N 47 0 0 3 65 0 1 2 60 0 0 1 81 1 0 1 73 1 0 2 2 89 1 0 2 1 1 NNN 5 4 76 1 2 68 1 0 1 2 68 1 0 5 2 5 2. 86 1 0 2 76 1 1 3 1 67 1 0 2 3 57 1 0 4 2 55 1 1 3 2 54 1 0 mm 5 2 69 1 0 3 68 1 0 5 NU 2. 2. 86 1 0 2 76 1 1 3 1 67 1 0 2 3 57 1 0 4 55 1 1 3 N N Nm 54 1 5 2 69 1 0 0 0 0 3 3 3 82 1 0 un 5 1 94 1 0 1 1 74 1 1 5 2 75 1 1 4 4 3 69 1 0 N 2 71 1 0 4 4 79 1 0 5 2 80 1 0 1 4 91 1 0 4 1 92 1 0 1 4 46 1 1 4 3 4 5 72 1 0 2 85 1 0 5 1 (a) Develop the estimated regression equation using all of the independent variables inclu Let x1 represent Industry. Let x2 represent Public. Let x3 represent Quality. Let x4 represent Finish. If required, round your answer to three decimal places. For subtractive or negative nu (Example: -300) (a) Develop the estimated regression equation using all of the independent variables included in the data. Let x; represent Industry, Let x2 represent Public Let xy represent Quality Let xa represent Finish If required, round your answer to three decimal places. For subtractive or negative numbers use a minus sign even if there is a sign before the blank. (Example: -300) X2 + (b) How much of the variation in the sample values of delay does this estimated regression equation explain? If required, round your answer to one decimal place, % What other independent variables could you include in this regression model to improve the fit? (1) company name, name of company that did the audit (H) type of audit, amount of taxes reported by the company that is being audited (ili) type of audit, company name, amount of taxes reported by the company that is being audited (iv) company name, name of company that did the audit, amount of taxes reported by the company that is being audited - Select your answer - (c) Test the relationship between each independent variable and the dependent variable at the 0.05 level of significance If required, round your answers to four decimal places, The p-value associated with the estimated regression parameter bris Because this p-value is - Select your answer significance, we Select your answer the hypothesis that B1 = 0. Interpret the relationship between Delay and Industry We - Select your answer. conclude that there is a relationship between Industry and Delay, The p-value associated with the estimated regression parameter b2 is . Because this p-value is - Select your answer significance, we - Select your answer the hypothesis that 820. Interpret the relationship between Delay and Public We than the level of than the level of Select your than the level of significance, we Select your answer the hypothesis that B1 -0. Interpret the relationship between Delay and Industry. We - Select your answer conclude that there is a relationship between Industry and Delay The p-value associated with the estimated regression parameter by is Because this p-value is Select your answer significance, we - Select your answer the hypothesis that B2 = 0. Interpret the relationship between Delay and Public. we - Select your answer condude that there is a relationship between public and Delay The p-value associated with the estimated regression parameter bis Because this p-value is - Select your answ nswer than the level of significance, we - Select your answer the hypothesis that fiz - 0. Interpret the relationship between Delay and Quality we - Select your answer conclude that there is a relationship between Delay and Quality The p-value associated with the estimated regression parameter Duis Because this p-value is Select your answer than the level of significance, we Select your answer the hypothesis that 4 -0. Interpret the relationship between Delay and Finished We Select your answer conclude that there is a relationship between Delay and Finished (d) Remove all Independent variables that are not significant at the 0.05 level of significance from the estimated regression equation. What is your recommended estimated regression equation Enter a coefficient of zero for any independent variable you chose to remove. If required, round your answer to three decimal places. Do not round intermediate calculations. 2 X+ + X4