Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you please assist me with this practice question? please note that this is not a quiz as assumed and stop been too quick to

Can you please assist me with this practice question?

please note that this is not a quiz as assumed and stop been too quick to point fingers! it is in fact materials that I found here on coursehero so it violates academy honesty and integrity.Then course hero shouldn't be providing us with these study materials period.

image text in transcribedimage text in transcribed
Econ 3210 Midterm, Page 6 of 12 October, 2015 (c) (10 marks) Given your answer in part (b), calculate the slope coefficient from a regression of IQ on years of education (61 below): 1Q = do + 61 years of education (d) (5 marks) Interpret the R2 in column (2).Econ 3210 Midterm, Page 5 of 12 October, 2015 2. Below is a table of regression output produced in R. The table contains two regressions. The first regression, reported in column (1), is a simple regression of log hourly wages on years of education. The second column contains results for a regression of log hourly wages on years of education and IQ (score on an 1Q exam). The numbers listed in the table are the estimated coefficients with standard errors listed under the estimate in parenthesis. Regression Results Dependent variable: Log hourly wage (1) (2) years of education 0. 053 0. 034 (0. 007) (0. 008) IQ 0. 005 (0. 001) Constant 2. 295 2. 006 (0. 089) (0. 106) Observations 935 935 R2 D . 066 0. 089 Note: Project Star Data. (a) (5 marks) Interpret the Constant in column (1) and (2). (b) (5 marks) Interpret the coefficient on 'years of education' in column (1) and (2)? Why does it change between columns

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Elementary Algebra Graphs & Authentic Applications (Subscription)

Authors: Jay Lehmann

3rd Edition

0134781252, 9780134781259

More Books

Students also viewed these Mathematics questions