A researcher collected a data set for a random sample of 930 individuals living in and around London, with data collectedover 1-year period. The Table below reports the OLS coefficient estimates and standard errors, where the dependentvariable is [100xIn(well-being)].Commuting time/60 -0.237 (0.039)-0.062 (0.008)0.2AgeAge squared/100Hours workedlog real incomeMarried or cohabitingNum. of childrenSavesDegreeconstant(0.010)-0.0053 (0.001)0.0297 (0.009)Answer:0.589 (0.032)-0.051(0.015)0.299 (0.022)-0.022 (0.035)0.234 (0.052)The explanatory variables are: Commuting time/60 = Number of minutes of commuting time per day; Age= Age in years;Hours worked = Hours worked per week; Log of real household income = 100xLn(real household income measured in£10,000s); Num. of children = Number of children under the age of 18; Save regularly = 1 if save regularly, 0 otherwise;University degree = 1 if has a University degree, O otherwise. What is the predicted value of the dependent variable for anindividual with 120 minutes of commuting time who is 30 years old, working 36 hours per week with real income of 30k,who is single, with no children who does not save and does not have a degree. (2 decimal places)

Given Information: The independent variables are: Commuting time, Age, Hours worked, Log of real…

Answered: A researcher collected a data set for a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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