Degree -0.022 (0.035) The explanatory variables are: Commuting time = Number of minutes of commuting time per day; Age= Age in years; Hours worked = Hours worked per week; Log of real household income = 100xLn(real household income measured in £10,000s); Num. of children = Number of children under the age of 18; Save regularly = 1 if save regularly, 0 otherwise; University degree = 1 if has a University degree, 0 otherwise. Calculate the test statistics for the hypothesis the semi-elasticity of well-being with respect to age is zero when Age=38, given cov(b2, b3)= -0.0001. (2 decimal places)
Degree -0.022 (0.035) The explanatory variables are: Commuting time = Number of minutes of commuting time per day; Age= Age in years; Hours worked = Hours worked per week; Log of real household income = 100xLn(real household income measured in £10,000s); Num. of children = Number of children under the age of 18; Save regularly = 1 if save regularly, 0 otherwise; University degree = 1 if has a University degree, 0 otherwise. Calculate the test statistics for the hypothesis the semi-elasticity of well-being with respect to age is zero when Age=38, given cov(b2, b3)= -0.0001. (2 decimal places)
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
![A researcher collected a data set for a random sample of 930 individuals living in and around London, with data collected
over 1-year period. The Table below reports the OLS coefficient estimates (intercept not reported) and standard errors (in
parentheses), where the dependent variable is [100xIn(well-being)].
Commuting time/60 -0.267 (0.039)
-0.14 (0.040)
Age
Age squared/100
0.12 (0.040)
Hours worked
-0.0053 (0.001)
log real income
0.0267 (0.009)
Married or cohabiting 0.589 (0.032)
Num. of children.
-0.051 (0.015)
Saves
Degree
0.299 (0.022)
-0.022 (0.035)
The explanatory variables are: Commuting time = Number of minutes of commuting time per day; Age= Age in years; Hours
worked = Hours worked per week; Log of real household income = 100xLn(real household income measured in £10,000s);
Num. of children = Number of children under the age of 18; Save regularly = 1 if save regularly, 0 otherwise; University
degree = 1 if has a University degree, 0 otherwise. Calculate the test statistics for the hypothesis the semi-elasticity of
well-being with respect to age is zero when Age=38, given cov(b₂, b3) = -0.0001. (2 decimal places)
Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F946302a0-fafd-4e2f-b0bc-314903f3aa2e%2Fc6d02fd7-19f5-4b17-891b-f7b9834931b8%2F2yu6bpt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A researcher collected a data set for a random sample of 930 individuals living in and around London, with data collected
over 1-year period. The Table below reports the OLS coefficient estimates (intercept not reported) and standard errors (in
parentheses), where the dependent variable is [100xIn(well-being)].
Commuting time/60 -0.267 (0.039)
-0.14 (0.040)
Age
Age squared/100
0.12 (0.040)
Hours worked
-0.0053 (0.001)
log real income
0.0267 (0.009)
Married or cohabiting 0.589 (0.032)
Num. of children.
-0.051 (0.015)
Saves
Degree
0.299 (0.022)
-0.022 (0.035)
The explanatory variables are: Commuting time = Number of minutes of commuting time per day; Age= Age in years; Hours
worked = Hours worked per week; Log of real household income = 100xLn(real household income measured in £10,000s);
Num. of children = Number of children under the age of 18; Save regularly = 1 if save regularly, 0 otherwise; University
degree = 1 if has a University degree, 0 otherwise. Calculate the test statistics for the hypothesis the semi-elasticity of
well-being with respect to age is zero when Age=38, given cov(b₂, b3) = -0.0001. (2 decimal places)
Answer:
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