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36. Supposehata researcherusingdataon the numberof yearsof educationa personhasreceivedandtheir annual earningsfrom 250 individuals estimatethe OLS regression Earnings = 39.74+ 1.58 Education, where Earnings is measured thousandof
36. Supposehata researcherusingdataon the numberof yearsof educationa personhasreceivedandtheir annual earningsfrom 250 individuals estimatethe OLS regression Earnings = 39.74+ 1.58 Education, where Earnings is measured thousandof dollars If the numberof yearsof educationa personreceivesincreaseby three on averagethe annualearningsof the individual would increase by $ 4,740 Note: Reportanswerin dollars Supposehat Meghanwantsto earnat least$ 68,000 annuallyandshehasrecentlyearneda Bachelor'sdegreein Economics completing16 yearsof educationin total. Sheis consideringwhethersheshouldpursuea Master'sdegreeas well, which would involve studyingfor two moreyears Which of the following statementss true? A. Shecouldhavereachedherincometargetwithout a Bachelor'sdegreeby receiving educationfor only 12 years B. Shewill reachherincometargetonceshespendstwo moreyearsearninga Master's degree C. Shewill not ableto reachherincometargetevenafter spendingtwo moreyearsearninga Master'sdegree D. Sheis ableto reachherincometargetwith hercurrentlevel of education
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