Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Y = Yearly Income (measured in thousands of dollars) X = 1 if someone has a bachelor's degree or higher and 0 otherwise You obtain

image text in transcribed
image text in transcribed
Y = Yearly Income (measured in thousands of dollars) X = 1 if someone has a bachelor's degree or higher and 0 otherwise You obtain the following regression equation from your analysis: yhat = 31.6 + 14.3*x where the value of 14.3 has a p-value of 0.01 Based on the regression equation how would you interpret the value of 14.3 0 If someone has a college degree they earn 45.9 thousand dollars a year Q Yearly salary has no inuence on if someone has at least a bachelor's degree 0 For everyone 1 thousand dollar increase in yearly salary someone is 14.3 times more likely to have a bachelor's degree 0 People with at least a bachelor's degree earn on average 14.3 thousand dollars more per year than those who have less education than a bachelor's degree 0 Education has no inuence on the someone's yearly salary 0 If someone does not have a college degree the earn 31.6 thousand dollars a year

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 Linear Programming With Applications

Authors: Bernard Kolman, Robert E Beck

2nd Edition

0080530796, 9780080530796

More Books

Students also viewed these Mathematics questions