Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. You have data from a large nationally-representative survey which collected information on people's wages, years of education, age, gender, and marital status. You
4. You have data from a large nationally-representative survey which collected information on people's wages, years of education, age, gender, and marital status. You run a regression to test the determinants of wages and you get the results below. Use the 95% confidence level to interpret the results. T- Variable Coefficient SE(Coeff) CI statistic p- value Years of education Age Female (1/0) 200 65 50 [-80,180] -500 5 Married (1/0) 100 0.07 a. What is the interpretation of the coefficient on years of education (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points b. What is the interpretation of the coefficient on age (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points C. What is the interpretation of the coefficient on female gender (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points d. What is the interpretation of the coefficient on marital status (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started