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As the advisor in the Ministry of Finance in charge of taxation policey, your current project is to explain people's earnings in Multinational Corporations in Sri Lanka (in tens of thousands of USD per month). Based on 100 random observations, you obtained the following results, using these variables: GRADE: years of education, EXP: years of experience, EXP2: years of experience squared, UNION: dummy variable for membership in a union. Coefficient 0.595106 Variable Standard Error Prob. Constant 0.283485 0.0384 GRADE 0.082543 0.020093 0.0001 EXP 0.050274 0.014137 0.0006 EXP2 -0.000562 0.000288 0.0540 UNION 0.165929 0.124454 0.1856 Adjusted R-Squared: 37.17% c) Explain the value of adjusted R-squared d) Discuss the problems if any classical assumptions are violated and explain why these problems occur

As the advisor in the Ministry of Finance in charge of taxation policey, your current project is to explain people's earnings in Multinational Corporations in Sri Lanka (in tens of thousands of USD per month). Based on 100 random observations, you obtained the following results, using these variables: GRADE: years of education, EXP: years of experience, EXP2: years of experience squared, UNION: dummy variable for membership in a union. Coefficient 0.595106 Variable Standard Error Prob. Constant 0.283485 0.0384 GRADE 0.082543 0.020093 0.0001 EXP 0.050274 0.014137 0.0006 EXP2 -0.000562 0.000288 0.0540 UNION 0.165929 0.124454 0.1856 Adjusted R-Squared: 37.17% c) Explain the value of adjusted R-squared d) Discuss the problems if any classical assumptions are violated and explain why these problems occur

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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As the advisor in the Ministry of Finance in charge of taxation policey, your current project is to explain people's earnings in Multinational Corporations in Sri Lanka (in tens of thousands of USD per month). Based on 100 random observations, you obtained the following results, using these variables: GRADE: years of education, EXP: years of experience, EXP2: years of experience squared, UNION: dummy variable for membership in a union. Coefficient 0.595106 Variable Standard Error Prob. Constant 0.283485 0.0384 GRADE 0.082543 0.020093 0.0001 EXP EXP2 0.050274 0.014137 0.0006 -0.000562 0.000288 0.0540 UNION 0.165929 0.124454 0.1856 Adjusted R-Squared: 37.17% c) Explain the value of adjusted R-squared d) Discuss the problems if any classical assumptions are violated and explain why these problems occur
Transcribed Image Text:As the advisor in the Ministry of Finance in charge of taxation policey, your current project is to explain people's earnings in Multinational Corporations in Sri Lanka (in tens of thousands of USD per month). Based on 100 random observations, you obtained the following results, using these variables: GRADE: years of education, EXP: years of experience, EXP2: years of experience squared, UNION: dummy variable for membership in a union. Coefficient 0.595106 Variable Standard Error Prob. Constant 0.283485 0.0384 GRADE 0.082543 0.020093 0.0001 EXP EXP2 0.050274 0.014137 0.0006 -0.000562 0.000288 0.0540 UNION 0.165929 0.124454 0.1856 Adjusted R-Squared: 37.17% c) Explain the value of adjusted R-squared d) Discuss the problems if any classical assumptions are violated and explain why these problems occur
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