AWE = 752.4360 + 10.3680 x Age, R = 0.025, SER = 674. The coefficient shows the marginal effect of Age on AWE; that is, AWE is expected to increase by $ for each additional year of age. is the intercept of the regression line. It determines the overall level of the line. (Round your responses to four decimal places.) The standard error of the regression (SER) is 674. What are the units of measurement for the SER? OA. Dollars per year. O B. Unit-free. OC. Dollars. O D. Dollars per week. The regression R is 0.025. What are the units of measurement for the R? OA. Dollars per year. O B. Unit-free. OC. Dollars per week. OD. Dollars. What is the regression's predicted earnings for a 25-year-old worker? The regression's predicted eamings for a 25-year-old worker are S (Round your response to two decimal places.) Will the regression give reliable predictions for a 84-year-old worker? OA. No, the oldest worker in the sample is 65 years old; 84 years is far outside the range of the sample data. O B. Yes, although the oldest worker in the sample data is 65 years old, the model is developed to make forecasts and predictions for workers younger than 25 years of age and older than 65 years of age. Given what you know about the distribution of earnings, do vou think it is plausible that the distribution of errors in the regression is normal?
AWE = 752.4360 + 10.3680 x Age, R = 0.025, SER = 674. The coefficient shows the marginal effect of Age on AWE; that is, AWE is expected to increase by $ for each additional year of age. is the intercept of the regression line. It determines the overall level of the line. (Round your responses to four decimal places.) The standard error of the regression (SER) is 674. What are the units of measurement for the SER? OA. Dollars per year. O B. Unit-free. OC. Dollars. O D. Dollars per week. The regression R is 0.025. What are the units of measurement for the R? OA. Dollars per year. O B. Unit-free. OC. Dollars per week. OD. Dollars. What is the regression's predicted earnings for a 25-year-old worker? The regression's predicted eamings for a 25-year-old worker are S (Round your response to two decimal places.) Will the regression give reliable predictions for a 84-year-old worker? OA. No, the oldest worker in the sample is 65 years old; 84 years is far outside the range of the sample data. O B. Yes, although the oldest worker in the sample data is 65 years old, the model is developed to make forecasts and predictions for workers younger than 25 years of age and older than 65 years of age. Given what you know about the distribution of earnings, do vou think it is plausible that the distribution of errors in the regression is normal?
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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Question
Transcribed Image Text:A regression of average weekly earnings (AWE, measured in dollars) on age (measured in years) using a random sample of college-educated full-time workers aged 25-65 yields the following:
AWE = 752.4360 + 10.3680 x Age, R = 0.025, SER= 674.
The coefficient
shows the marginal effect of Age on AWE; that is, AWE is expected to increase by $
for each additional year of age.
is the intercept of the regression line. It determines the overall level of the line.
(Round your responses to four decimal places.)
The standard error of the regression (SER) is 674. What are the units
measurement for the SER?
O A. Dollars per year.
O B. Unit-free.
OC. Dollars.
O D. Dollars per week
The regression R is 0.025. What are the units of measurement for the R?
O A. Dollars per year.
O B. Unit-free.
O C. Dollars per week
O D. Dollars.
What is the regression's predicted earnings for a 25-year-old worker?
The regression's predicted eamings for a 25-year-old worker are $
(Round your response to two decimal places.)
Will the regression give reliable predictions for a 84-year-old worker?
O A. No, the oldest worker in the sample is 65 years old; 84 years is far outside the range of the sample data.
O B. Yes, although the oldest worker in the sample data is 65 years old, the model
developed to make forecasts and predictions for workers younger than 25 years of age and older than 65 years of age.
Given what you know about the distribution of earnings, do you think it is plausible that the distribution of errors in the regression is normal?
O A. No, the distribution of earnings is negatively skewed and has kurtosis smaller than the normal.
O B. No, the distribution of earnings is positively skewed and has kurtosis larger than the normal.
OC. Yes, the distribution of earnings is symmetric and thus normal.
The average age in this sample is 44.9 years. What is the average value of AWE in the sample?
The sample mean of AWE is $
(Round your response to two decimal places.)
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