Consider the regression between average hourly earnings (AHE, in dollars) and years of education (EDUC, in years) on 14,925 individuals: Estimated(AHE) = - 4.58 + 1.71(EDUC), R = 0.182, SER = 9.30 a) Interpret both coefficients and the regression R2. b) Why should education matter in the determination of earnings? Do the results suggest that there is a guarantee for average hourly earnings (AHE) to rise for everyone as they receive an additional year of education? C) Do you think that the relationship between education and average hourly earnings is linear? Explain.

Consider the regression between average hourly earnings (AHE, in dollars) and years of education (EDUC, in years) on 14,925 individuals: Estimated(AHE) = - 4.58 + 1.71(EDUC), R = 0.182, SER = 9.30 a) Interpret both coefficients and the regression R2. b) Why should education matter in the determination of earnings? Do the results suggest that there is a guarantee for average hourly earnings (AHE) to rise for everyone as they receive an additional year of education? C) Do you think that the relationship between education and average hourly earnings is linear? Explain.

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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