Answered step by step
Verified Expert Solution
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
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 = 33 + 16.6*x where the value of 16.6 has a p-value of 0.1. Based on the regression equation how would you interpret the value of 16.6 0 People with at least a bachelor's degree earn on average 16.6 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 O For everyone 1 thousand dollar increase in yearly salary someone is 16.6 times more likely to have a bachelor's degree 0 If someone does not have a college degree the earn 33 thousand dollars a year Q If someone has a college degree they earn 49.6 thousand dollars a year Q Yearly salary has no inuence on if someone has at least a bachelor's degree
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started