A researcher wants to test the relationship between the number of years of formal education received (X) and the average weekly earnings dollars) A report released by a government agency suggests that the average weekly earnings of individuals with no formal education is equal to $545. The researcher wants to test whether the average weekly earnings with no formal education is $545 or greater than that. He collects data from a sample of 120 individuals and estimates the following regression function: -6.91+2.30X, (1.25) (4.25) where is the predicted value of the weekly eamings for the individual and the standard errors for the coefficients appear in parenthesis. The F-statistic for the test the researcher wants to conduct will be (Round your answer to two decimal places)

A researcher wants to test the relationship between the number of years of formal education received (X) and the average weekly earnings dollars) A report released by a government agency suggests that the average weekly earnings of individuals with no formal education is equal to $545. The researcher wants to test whether the average weekly earnings with no formal education is $545 or greater than that. He collects data from a sample of 120 individuals and estimates the following regression function: -6.91+2.30X, (1.25) (4.25) where is the predicted value of the weekly eamings for the individual and the standard errors for the coefficients appear in parenthesis. The F-statistic for the test the researcher wants to conduct will be (Round your answer to two decimal places)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2
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