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The following equation presents standardized or beta coefficients for the regression of consumption in thousands of dollars (cons) on age in years (age) and pension
The following equation presents standardized or beta coefficients for the regression of consumption in thousands of dollars (cons) on age in years (age) and pension wealth in thousands of dollars (penwealth): cons = 0.03age + 0.015penwealth What is the interpretation of the coefficient on penwealth? O A one standard deviation increase in the amount of pension wealth increases consumption by $0.015 A thousand dollar increase in the amount of pension wealth increases consumption by $0.015 A one standard deviation increase in the amount of pension wealth increases consumption by 0.015 standard deviations A thousand dollar increase in the amount of pension wealth increases consumption by $15
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