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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:
advantage and disadvantage
Type of Variable in Regression Analysis There are two types of variable in regression analysis. These are: a. Dependent variable b. Independent variable
how much that cost ?
Linear Programming
Scenario : Mrs dick's year 1s and 2s carried out a level-one science investigation to explain the changes in a particular plant over a period of time. As part of the investigation
method of least square
1. For each of the following variables: major, graduate GPA, and height: a. Determine whether the variable is categorical or numerical. b. If the variable is numerical, deter
Regression Lines It has already been discussed that there are two regression lines and they show mutual relationship between two variable . The regression line Yon X gives th
#In planning the teaching assignments for next semester, Mr. Hinton must have a teacher in each of the 7 grades during each of the 6 periods of the day. If he has 10 teachers to ch
slope parameter of 1.4 and scale parameter of 550.calculate Reliability, MTTF, Variance, Design life for R of 95%
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