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An economist wants to estimate the relationship between earnings (in thousands of dollars) and years of education. She estimates the model Earnings = BO+B1 "Education + ε. The following is a portion of her results. Coefficient Standard Error 15.77 4.21 Intercept Education Which of the following is true? 3.8 1.4 p-value 0.003 0.032 O If education is increased by one year, we predict that earnings will increase by $4,210. O If earnings are increased by $1000, we predict that education will increase by .21 O If education is increased by one year, we predict that earnings will increase by $3200. O If earnings are increased by $1000, we predict that education will increase by .032 years.

An economist wants to estimate the relationship between earnings (in thousands of dollars) and years of education. She estimates the model Earnings = BO+B1 "Education + ε. The following is a portion of her results. Coefficient Standard Error 15.77 4.21 Intercept Education Which of the following is true? 3.8 1.4 p-value 0.003 0.032 O If education is increased by one year, we predict that earnings will increase by $4,210. O If earnings are increased by $1000, we predict that education will increase by .21 O If education is increased by one year, we predict that earnings will increase by $3200. O If earnings are increased by $1000, we predict that education will increase by .032 years.

MATLAB: An Introduction with Applications
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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An economist wants to estimate the relationship between earnings (in thousands of dollars) and years of education. She estimates the model Earnings = BO + B1 *Education + ε. The following is a portion of her results. Coefficient Standard Error 15.77 4.21 Intercept Education Which of the following is true? 3.8 1.4 p-value 0.003 0.032 O If education is increased by one year, we predict that earnings will increase by $4,210. O If earnings are increased by $1000, we predict that education will increase by .21 O If education is increased by one year, we predict that earnings will increase by $3200. O If earnings are increased by $1000, we predict that education will increase by .032 years.
Transcribed Image Text:An economist wants to estimate the relationship between earnings (in thousands of dollars) and years of education. She estimates the model Earnings = BO + B1 *Education + ε. The following is a portion of her results. Coefficient Standard Error 15.77 4.21 Intercept Education Which of the following is true? 3.8 1.4 p-value 0.003 0.032 O If education is increased by one year, we predict that earnings will increase by $4,210. O If earnings are increased by $1000, we predict that education will increase by .21 O If education is increased by one year, we predict that earnings will increase by $3200. O If earnings are increased by $1000, we predict that education will increase by .032 years.
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