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ID: 3324394 • Letter: R
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Remaining Time: 1 hour, 14 minutes, 19 seconds. Question Completion Status Moving to another question will save this response Question 8 of 20 ! Question 8 1.25 points Save Answe The Bank of New England is a large financial institution serving the New England states as well as New York and New Jersey. The mortgage department of the Bank of New England is studying data from recent loans. Of particular interest is how such factors as the value of the home being purchased ($000), education level of the head of the household (number of years, beginning with first grade). age of the head of the household, current monthly mortgage payment (in dollars), and gender of the head of the household (male 1, female 0) relate to the family income. The mortgage department would like to know whether these variables are effective predictors of family income. In this model "gender of the head of household" is a. The response variable Ob. An explanatory variable c. Both a response and a explanatory variable d. Neither a response nor an explanatory variable Moving to another question wil save this response Question 8 of 20 Firefox Installer (1).exe Show 12/14/2011Explanation / Answer
An explanatory variable is a type of independent variable. The two terms are often used interchangeably. But there is a subtle difference between the two. When a variable is independent, it is not affected at all by any other variables. When a variable isn't independent for certain, it's an explanatory variable.
B option