A researcher has estimated the relationship between salaries of 100 selected employees of an organization (shown as "EARN" in $/hour) and their years of education (shown as "YRSEDUC", in years) as per the following regression outcome with 5% level of significance (numbers are made up): Model 1: OLS, using observations 1-100 Dependent variable: EARN coefficient std. error t-ratio p-value const 3.32418 1.00223 3.317 0.0009 *** YRSEDUC 0.451931 0.0335255 13.48 5.73e-041 *** Mean dependent var 16.77115 Sum squared resid 598935.5 R-squared F(1, 7984) Log-likelihood S.D. dependent var 8.758696 S.E. of regression 8.661234 Adjusted R-squared 0.022131 P-value(F) 0.022254 181.7164 5.73e-41 -28571.28 Akaike criterion 57146.55 Schwarz criterion 57160.52 Hannan-Quinn 57151.33 Use the above findings to answer the following questions: A-Construct the 95% confidence interval of the slope coefficient. (Hint: There is no need to write the formula, you just need to show your calculations).
A researcher has estimated the relationship between salaries of 100 selected employees of an organization (shown as "EARN" in $/hour) and their years of education (shown as "YRSEDUC", in years) as per the following regression outcome with 5% level of significance (numbers are made up): Model 1: OLS, using observations 1-100 Dependent variable: EARN coefficient std. error t-ratio p-value const 3.32418 1.00223 3.317 0.0009 *** YRSEDUC 0.451931 0.0335255 13.48 5.73e-041 *** Mean dependent var 16.77115 Sum squared resid 598935.5 R-squared F(1, 7984) Log-likelihood S.D. dependent var 8.758696 S.E. of regression 8.661234 Adjusted R-squared 0.022131 P-value(F) 0.022254 181.7164 5.73e-41 -28571.28 Akaike criterion 57146.55 Schwarz criterion 57160.52 Hannan-Quinn 57151.33 Use the above findings to answer the following questions: A-Construct the 95% confidence interval of the slope coefficient. (Hint: There is no need to write the formula, you just need to show your calculations).
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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Transcribed Image Text:A researcher has estimated the relationship between salaries of 100 selected employees of an organization (shown as "EARN" in $/hour) and their years of
education (shown as "YRSEDUC", in years) as per the following regression outcome with 5% level of significance (numbers are made up):
Model 1: OLS, using observations 1-100
Dependent variable: EARN
coefficient
std. error
t-ratio
p-value
const
3.32418
1.00223
3.317
0.0009
***
YRSEDUC
0.451931
0.0335255
13.48
5.73e-041 ***
Mean dependent var 16.77115
Sum squared resid 598935.5
R-squared
F(1, 7984)
Log-likelihood
S.D. dependent var 8.758696
S.E. of regression 8.661234
Adjusted R-squared 0.022131
P-value(F)
0.022254
181.7164
5.73е-41
-28571.28
Akaike criterion
57146.55
Schwarz criterion 57160.52
Hannan-Quinn
57151.33
Use the above findings to answer the following questions:
A-Construct the 95% confidence interval of the slope coefficient.
(Hint: There is no need to write the formula, you just need to show your calculations).
B-Based on your results in part A above, is the slope coefficient significant or not? Briefly explain.
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