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For the multiple regression model Y = 40,000 + 15,000X 1 + 2,000X 2 , where Yis future income,X 1 is a dummy variable representing
For the multiple regression model Y = 40,000 + 15,000X1 + 2,000X2, where Yis future income,X1is a dummy variable representing whether or not either or both parents attended college (if yes, it takes the value of 1, and 0 if not), and X2represents years of secondary schooling of the individual.
What is the expected income of an individual whose mother, but not father, attended college, and who themselves have 5 years of secondary schooling?
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