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A regression of average weeklv earnings (AWE. measured in dollars] on age (measured in years} using random sample of collegeeducated fulltime workers aged 2565 vields
A regression of average weeklv earnings (AWE. measured in dollars] on age (measured in years} using random sample of collegeeducated fulltime workers aged 2565 vields the following: m = 696.? + 9.6 Agaz = 6.623.3ER = 624.1. a. Explain what the coefficient values 666.? and 6.6 mean. la. The standard error of the regression (SERJ is 624.1. What are the units of measurement for the SER? (Dollars? Years? Or is SER unit free?) e. The regression R2 is 6.623. What are the units of measurement for the R2? (Dollars? "fears? Or is 63 unit free?) d. What does the regression orediot will be the earnings for a 25yearold worker? For a 45yearold worker\"? e. The average age in this sample if 41.6 years. What is the average value of AWE in the sample
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