5.3 Let's dig more deeply into whether the relationship between earnings and schooling is approximately linear. schooling01234567891011121314151617181920earnings12.557212.3705912.2834512.5394213.6020413.6968514.4639215.4879216.5822317.7533118.3158318.9358120.6925522.4049223.5571125.1273130.913330.2550231.3514831.2420834.62525 your(a) Start by making a scatter plot. Then plot the predicted values from yregression along with the raw data points, as we did in chapter 2. Doesthe regression line look like it's fitting the data well?300 (b) Now run a fourth-order polynomial regression (i.e., include school-ing, schooling², schooling, and schooling. Do those predictionsmeaningfully differ from the predictions coming from the linearregression?(c) Now run different regressions for some different ranges of schooling.Do those lines look meaningfully different from the predictions you getfrom a single regression including all the data?(d) Does all this make you think the simple linear approach was reasonableor unreasonable?

Answered: (a) Start by making a scatter plot.…

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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