Estimates of the intercept coefficient

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Reference no: EM131071572

A researcher is using data for a sample of 274 male employees to investigate the relationship between hourly wage rates Yi (measured in dollars per hour) and firm tenure Xi (measured in years). Preliminary analysis of the sample data produces the following sample information:

(a) Use the above information to compute OLS estimates of the intercept coefficient β1 and the slope coefficient β2

(b) Interpret the slope coefficient estimate you calculated in part (a) -- i.e., explain in words what the numeric value you calculated for β means.

Reference no: EM131071572

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