Homework: Chapter 4\ Question 6, General\ HW Score:

77.86%,7.79

of 10\ Empirical 4.3\ points\ Homework\ Part 9 of 9\ Points: 0 of 1\ In this exercise, you will use these data to investigate the relationship between the number of completed years of education for young adults and the distance from each student's high school to the nearest four-year college. (Proximity lowers the cost of education, so that students who live closer to a four-year college should, on average, complete more years of higher education.)\ The following table contains data from a random sample of high school seniors interviewed in 1980 and re-interviewed in 1986. Download the data from the table by clicking the download table icon . A detailed description of the variables used in the dataset is available here

i

. Use a statistical package of your choice to answer the following questions.\ Suppose you are interested in estimating the following model\

ED=\\\\beta _(0)+\\\\beta _(1) Dist +u

\ Run a regression of years of completed education (ED) on distance to the nearest college (Dist), where Dist is measured in tens of miles. (For example, Dist

=2

means that the distance is 20 miles).\ What is the estimated intercept

hat(\\\\beta )_(0)

?\ The estimated intercept

hat(\\\\beta )_(0)

is 14.117 .\ (Round your response to three decimal places)\ What is the estimated slope

hat(\\\\beta )_(1)

?\ The estimated slope

hat(\\\\beta )_(1)

is -0.071 .\ (Roundyour response to three decimal places)\ Is the estimated intercept

hat(\\\\beta )_(0)

meaningful in this case?\ A. Yes.\ Etext pages\ Grapher\ Get more help

In this exercise, you will use these data to investigate the relationship between the number of completed years of education for young adults and the distance from each student's high school to the nearest four-year college. (Proximity lowers the cost of education, so that students who live closer to a four-year college should, on average, complete more years of higher education.) The following table contains data from a random sample of high school seniors interviewed in 1980 and re-interviewed in 1986. Download the data from the table by clicking the download table icon . A detailed description of the variables used in the dataset is available here Use a statistical package of your choice to answer the following questions. Suppose you are interested in estimating the following model ED=0+1Dist+u Run a regression of years of completed education (ED) on distance to the nearest college (Dist), where Dist is measured in tens of miles. (For example, Dist =2 means that the distance is 20 miles). What is the estimated intercept ^0 ? The estimated intercept ^0 is (Round your response to three decimal places) What is the estimated slope ^1 ? The estimated slope ^1 is (Round your response to three decimal places) Is the estimated intercept ^0 meaningful in this case