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Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in 1976 U.S. dollars and let educ denote years of schooling. We obtain the following OLS regression line: wage = -0.54 + 0.54educ. How do you interpret the slope of this regression line? What is the expected difference in the hourly wage between a worker that finished four years of college and a worker with finished high school? What is the predicted wage for a person with one year of education? Does that make sense? If it is not, what is the name of this problem in econometrics? How do we deal with it?
Suppose you are interested in the effect of skipping classes on college GPA, and collect a sample of economic variables from 400 college students to analyze the problem. Included in your data are college GPA on a four-point scale (COLGPA), high school GPA on a four-point scale (HSGPA), achievement test score (ATS), and the average number of Economics 122B lectures missed per week (SKIP). Running a regression of the dependent variable COLGPA on the other explanatory variables including a constant (and homoskedastic errors) yields:
Canonical correlation analysis (CC) allows the investigation of the relationship between two ,sets of variables. For example, a sociologist may want to investigate the Relationship
To study the physical fitness of a sample of 28 people, the data below was collected representing the number of sit-ups that a person could do in one minute. 10 12
description
get a questionnaire that captured age at first marriage
how to interpret results, a good explanation to help me understand.
"MagTek" electronics has developed a smart phone that does things that no other phone yetreleased into the market-place will do. The marketing department is planning to demonstrate
For each of the following scenarios, explain how graph theory could be used to model the problem described and what a solution to the problem corresponds to in your graph model.
Properties of correlation
In reduced rank regression (RRR), the dependent variables are first submitted to a PCA and the scores of the units are then used as dependent variables in a series of
Assume that the normal distribution applies and find the critical z value(s). A = 0.04; H1 is mean ≠ 98.6 degrees Fahrenheit. Dteremine the value of Z. Find the value of the
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