Does it pay to stay in school? A report looked at the median hourly wage gain per additional year of schooling in 2007. The report states that workers with a high school diploma had a median hourly wage that was 9% higher than those who had only completed 11 years of school. Workers who had completed 1 year of college (13 years of education) had a median hourly wage that was 10% higher than that of the workers who had completed only 12 years of school. The added gain in median hourly wage for each additional year of school is shown in the accompanying table. The entry for 15 years of schooling has been intentionally omitted from the table. Years of Schooling 12 13. 14 16 17 18 2007 Median Hourly Wage Gain for the Additional Year (percent) % 9 10 12 15 17 18 (a) Use the given data to predict the median hourly wage gain for the 15th year of schooling. (Round your answer to one decimal place.) % (b) The actual wage gain for 15th year of schooling was 14%. How close was the actual value to the predicted wage gain percent from part (a)? (Use actual predicted. Round your answer to one decimal place.)
Does it pay to stay in school? A report looked at the median hourly wage gain per additional year of schooling in 2007. The report states that workers with a high school diploma had a median hourly wage that was 9% higher than those who had only completed 11 years of school. Workers who had completed 1 year of college (13 years of education) had a median hourly wage that was 10% higher than that of the workers who had completed only 12 years of school. The added gain in median hourly wage for each additional year of school is shown in the accompanying table. The entry for 15 years of schooling has been intentionally omitted from the table. Years of Schooling 12 13. 14 16 17 18 2007 Median Hourly Wage Gain for the Additional Year (percent) % 9 10 12 15 17 18 (a) Use the given data to predict the median hourly wage gain for the 15th year of schooling. (Round your answer to one decimal place.) % (b) The actual wage gain for 15th year of schooling was 14%. How close was the actual value to the predicted wage gain percent from part (a)? (Use actual predicted. Round your answer to one decimal place.)
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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