Is the regression coefficient of education (Educ) statistically significant? (Use ? = 0.05.) Given this output, the regression coefficient for education (is/is not) statistically significant. (b) Does the variable education belong in the model? Given this output, the variable education (may/may not) belong in the model. (c) Given this output, which of the following is the correct interpretation for Education in this model?
Is the regression coefficient of education (Educ) statistically significant? (Use ? = 0.05.) Given this output, the regression coefficient for education (is/is not) statistically significant. (b) Does the variable education belong in the model? Given this output, the variable education (may/may not) belong in the model. (c) Given this output, which of the following is the correct interpretation for Education in this model?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
The following multiple regression printout can be used to predict a person's average annual salary given his or her years of employment and number of years of education beyond high school.
Coefficients | ||||
---|---|---|---|---|
Term | Coef | SE Coef | T-Value | P-Value |
Constant | 23,175 | 1,771 | 13.09 | 0.000 |
YrsEm | 671 | 141 | 4.76 | 0.000 |
Educ | 1,911 | 378 | 5.06 | 0.000 |
(a)
Is the regression coefficient of education (Educ) statistically significant? (Use ? = 0.05.)
Given this output, the regression coefficient for education (is/is not) statistically significant.
(b)
Does the variable education belong in the model?
Given this output, the variable education (may/may not) belong in the model.
(c)
Given this output, which of the following is the correct interpretation for Education in this model?
-For each additional year of education beyond high school, the estimated change in the average annual salary is $23,175, controlling for years of employment.
-For each additional year of education beyond high school, the estimated change in the average annual salary is $1,911, controlling for years of employment.
- The estimated change in the average value of annual salary of getting an additional year of education beyond high school is $1,911.
-An individual with 4 years of education beyond high school can expect an annual salary of $7,644.
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