In this exercise, you will use these data to investigate the relationship between the number of completed years of education for young adults and the distance from each student's high school to the nearest four-year college. (Proximity lowers the cost of education, so that students who live closer to a four-year college should, on average, complete more years of higher education.) The following table contains data from a random sample of high school seniors interviewed in 1980 and re-interviewed in 1986. Download the data from the table by clicking the download table icon ☐ . A detailed description of the variables used in the dataset is available here i. Use a statistical package of your choice to answer the following questions. Suppose you are interested in estimating the following model ED = Po + B₁Dist + u Run a regression of years of completed education (ED) on distance to the nearest college (Dist), where Dist is measured in tens of miles. (For example, Dist = 2 means that the distance is 20 miles). What is the estimated intercept Bo? The estimated intercept Bo is 13.714 (Round your response to three decimal places)
In this exercise, you will use these data to investigate the relationship between the number of completed years of education for young adults and the distance from each student's high school to the nearest four-year college. (Proximity lowers the cost of education, so that students who live closer to a four-year college should, on average, complete more years of higher education.) The following table contains data from a random sample of high school seniors interviewed in 1980 and re-interviewed in 1986. Download the data from the table by clicking the download table icon ☐ . A detailed description of the variables used in the dataset is available here i. Use a statistical package of your choice to answer the following questions. Suppose you are interested in estimating the following model ED = Po + B₁Dist + u Run a regression of years of completed education (ED) on distance to the nearest college (Dist), where Dist is measured in tens of miles. (For example, Dist = 2 means that the distance is 20 miles). What is the estimated intercept Bo? The estimated intercept Bo is 13.714 (Round your response to three decimal places)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
these are the dataset:
College Distance,
Dist,Ed
0.7,12
2.2,12
0.3,16
0,12
3.6,12
1,14
0.1,15
0.5,14
0.3,16
0.4,12
1,12
7.5,12
0.5,12
1.8,12
2.5,14
1.7,16
0.5,16
1,12
0.5,15
3,16
3.6,13
5,16
2,12
0.3,12
3,12
1.3,14
0.5,16
3.5,16
2,15
3.2,12
0.7,13
0.5,13
0.7,13
0.3,12
1,12
1.5,12
1.2,16
6.5,12
0.7,13
5,15
2.5,15
0.1,16
0,16
1,12
0.5,13
0.2,16
0.4,13
2.6,15
1,13
0.3,12
0.5,15
0.5,17
1.5,17
4,12
4,14
0,13
1.5,12
0.1,12
2,12
0.3,16
0.1,14
4,16
3,12
2.2,12
0.1,12
0.7,15
0.3,15
3.3,15
0.1,13
0.7,15
3.5,12
2.6,12
5,15
7,12
0.8,12
0.3,15
0.8,13
0.5,12
0.5,15
0.8,13
1.5,12
0.3,12
0.3,15
15,16
4.5,14
2.5,13
1.1,12
1.5,12
0.3,17
0,12
0.1,17
4,12
5.6,12
4.5,13
0.2,15
2.5,12
16,12
0.5,13
0.2,12
2,16
*answer there is incorrect
Transcribed Image Text:In this exercise, you will use these data to investigate the relationship between the number of completed years of
education for young adults and the distance from each student's high school to the nearest four-year college. (Proximity
lowers the cost of education, so that students who live closer to a four-year college should, on average, complete more
years of higher education.)
The following table contains data from a random sample of high school seniors interviewed in 1980 and re-interviewed in
1986. Download the data from the table by clicking the download table icon ☐ . A detailed description of the variables
used in the dataset is available here i. Use a statistical package of your choice to answer the following questions.
Suppose you are interested in estimating the following model
ED = Po + B₁Dist + u
Run a regression of years of completed education (ED) on distance to the nearest college (Dist), where Dist is measured
in tens of miles. (For example, Dist = 2 means that the distance is 20 miles).
What is the estimated intercept Bo?
The estimated intercept Bo is 13.714
(Round your response to three decimal places)
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