A researcher interested in explaining the income levels of St. Lucian workers, developed the following multiple linear regression model: INC = a + BEDU + YEXP+ ST RN where INC = monthly income, EDU =...

Extracted text: A researcher interested in explaining the income levels of St. Lucian workers, developed the following multiple linear regression model: INC = a + BEDU + YEXP+ ST RN where INC = monthly income, EDU = the number of years of formal education, EXP = the number of years of workforce experience and TRN = the number of weeks spent in job training. A sample of 35 workers was processed using MINITAB and the following is an extract of the output obtained: %3D PredictorCoef StDev t-ratio Constant 3315.7 1371.6 2.41 EDU 116.53 26.07 4.47 EXP 282.96 222.8 1.27 TRN -318.12125.74-2.53 S= 2.05 R-sq = 77.3% R-sq(adj) = 75.2% The coefficient y is significant at the 5% level of significance. Select one: O True False