Refer to the World Development (Feb. 1998) study of street vendors in the city of Puebla, Mexico,

Question:

Refer to the World Development (Feb. 1998) study of street vendors in the city of Puebla, Mexico, Exercise 10.7

(p. 573). Recall that the vendors' mean annual earnings Eb) was modeled as a first-order function of age x, and hours worked x2. Refer to the STATISTIX printout on p. 573 and answer the following:

a. Interpret the value of R2.

b. Interpret the value of R:. Explain the relationship between R2 and R:.

c. Conduct a test of the global utility of the model at LY = .01. Interpret the result.

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