7) Assume that you had estimated the following quadratic regression model TestScore 607.3+3.85 Income-0.0423 Income². If income increased from 10 to 11 ($10,000 to $11,000), then the predicted effect on test scores would be a. 3.85 b. 3.85-0.0423 c. Cannot be calculated because the function is non-linear d. 2.96
7) Assume that you had estimated the following quadratic regression model TestScore 607.3+3.85 Income-0.0423 Income². If income increased from 10 to 11 ($10,000 to $11,000), then the predicted effect on test scores would be a. 3.85 b. 3.85-0.0423 c. Cannot be calculated because the function is non-linear d. 2.96
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
I need Explaination based on the answer key answer is D but how. It is econometrics
![7)
Assume that you had estimated the following quadratic regression model
TestScore=607.3+3.85Income-0.0423 Income². If income increased from 10 to 11
($10,000 to $11,000), then the predicted effect on test scores would be
a. 3.85
b. 3.85-0.0423
c. Cannot be calculated because the function is non-linear
d. 2.96](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F91c2dafe-1855-4272-88f8-1fdc0be1bd56%2F9559225f-3bf7-4d6d-ba0e-e7adbbc6c6e7%2Fhxtw419_processed.png&w=3840&q=75)
Transcribed Image Text:7)
Assume that you had estimated the following quadratic regression model
TestScore=607.3+3.85Income-0.0423 Income². If income increased from 10 to 11
($10,000 to $11,000), then the predicted effect on test scores would be
a. 3.85
b. 3.85-0.0423
c. Cannot be calculated because the function is non-linear
d. 2.96
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