Above is a regression of men's monthly earnings in dollars as a function of their years of education, their IQ score in "points", their Knowledge of the World of Work (KWW score in points (a measure of their knowledge of how occupations work), their years of work experience (exper), whether they are Black, and their parents' education (fea and meduc).
Above is a regression of men's monthly earnings in dollars as a function of their years of education, their IQ score in "points", their Knowledge of the World of Work (KWW score in points (a measure of their knowledge of how occupations work), their years of work experience (exper), whether they are Black, and their parents' education (fea and meduc).
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
![Dep. Variable:
Model:
Method:
Date:
Time:
No. Observations:
Df Residuals:
Df Model:
Covariance Type:
Intercept
educ
IQ
KWW
exper
black
feduc
meduc
Least Squares
Wed, 23 Nov 2022
08:57:40
coef
-503.0058
40.5455
3.1654
7.2094
16.2338
-59.2987
10.8278
5.0471
std err
nonrobust
138.947
8.660
1.199
wage
OLS
2.120
3.740
52.143
5.353
6.106
722
714
7
R-squared:
Adj. R-squared:
Prob (F-statistic):
F-statistic:
Log-Likelihood:
AIC:
BIC:
-3.620
4.682
2.640
3.400
4.340
-1.137
2.023
0.827
P> [t]
0.000 -775.800
0.000
0.008
0.001
0.000
0.256
0.043
0.409
0.189
0.181
23.83
23.543
0.812
3.047
8.891
-161.671
0.318
-6.941
3.310-29
-5288.5
(0.025 0.9751
1.0590+04
1.063e+04
-230.212
57.548
5.519
11.372
23.577
43.074
21.338
17.035
Above is a regression of men's monthly earnings in dollars as a function of their years of education, their IQ score in "points", their Knowledge of the World of Work (KWW)
score in points (a measure of their knowledge of how occupations work), their years of work experience (exper), whether they are Black, and their parents' education (feduc
and meduc).
How would you interpret the coefficient on IQ?
For each additional IQ point, men earn about $1.20 more per month, controlling for education, knowledge of the work world, years of experience, whether they're
Black, and parents' education.
For each additional IQ point, men earn about 3 percent more per month, controlling for education, knowledge of the work world, years of experience, whether they're
Black, and parents' education.
For each additional IQ point, men earn about $2.64 more per month, controlling for education, knowledge of the work world, years of experience, whether they're
Black, and parents' education.
For each additional IQ point, men earn about $3 more per month, controlling for education, knowledge of the work world, years of experience, whether they're Black,
and parents' education,](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F95cf937b-6e89-4855-b6ec-e1ecd1ac66ca%2F3be5a6d5-541a-4121-aedb-fc3a96fa16f2%2F0iv6ts_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Dep. Variable:
Model:
Method:
Date:
Time:
No. Observations:
Df Residuals:
Df Model:
Covariance Type:
Intercept
educ
IQ
KWW
exper
black
feduc
meduc
Least Squares
Wed, 23 Nov 2022
08:57:40
coef
-503.0058
40.5455
3.1654
7.2094
16.2338
-59.2987
10.8278
5.0471
std err
nonrobust
138.947
8.660
1.199
wage
OLS
2.120
3.740
52.143
5.353
6.106
722
714
7
R-squared:
Adj. R-squared:
Prob (F-statistic):
F-statistic:
Log-Likelihood:
AIC:
BIC:
-3.620
4.682
2.640
3.400
4.340
-1.137
2.023
0.827
P> [t]
0.000 -775.800
0.000
0.008
0.001
0.000
0.256
0.043
0.409
0.189
0.181
23.83
23.543
0.812
3.047
8.891
-161.671
0.318
-6.941
3.310-29
-5288.5
(0.025 0.9751
1.0590+04
1.063e+04
-230.212
57.548
5.519
11.372
23.577
43.074
21.338
17.035
Above is a regression of men's monthly earnings in dollars as a function of their years of education, their IQ score in "points", their Knowledge of the World of Work (KWW)
score in points (a measure of their knowledge of how occupations work), their years of work experience (exper), whether they are Black, and their parents' education (feduc
and meduc).
How would you interpret the coefficient on IQ?
For each additional IQ point, men earn about $1.20 more per month, controlling for education, knowledge of the work world, years of experience, whether they're
Black, and parents' education.
For each additional IQ point, men earn about 3 percent more per month, controlling for education, knowledge of the work world, years of experience, whether they're
Black, and parents' education.
For each additional IQ point, men earn about $2.64 more per month, controlling for education, knowledge of the work world, years of experience, whether they're
Black, and parents' education.
For each additional IQ point, men earn about $3 more per month, controlling for education, knowledge of the work world, years of experience, whether they're Black,
and parents' education,
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