Note:hand written solution is not allowed. 3.) Siblings and educationThe following equation was estimated via OLS,educ; = 10.36 0.094 sibsį +0.131 meduc; +0.210. feducin = 722, R² = 0.214where educ is years of schooling, sibs is number of siblings, meduc is mother's years of schooling,and feduc is father's years of schooling.(a) Does sibs have the expected effect? Explain. Holding meduc and feduc fixed, by how muchdoes sibs have to increase to reduce predicted years of education by one year? (A nonintegeranswer is acceptable here.)(b) Discuss the interpretation of the coefficient on meduc.(c) Suppose that Man A has no siblings, and his mother and father each have 12 years of edu-cation. Man B has no siblings, and his mother and father each have 16 years of education.What is the predicted difference in years of education between B and A?

Educ = 10.36 – 0.094 sibs +0.131 meduc + 0.210 feducPart (a)It has been generally seen in life that…

Answered: Note:hand written solution is not…

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Economics

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Note:hand written solution is not allowed.

3.) Siblings and education
The following equation was estimated via OLS,
educ; = 10.36 0.094 sibsį +0.131 meduc; +0.210. feduci
n = 722, R² = 0.214
where educ is years of schooling, sibs is number of siblings, meduc is mother's years of schooling,
and feduc is father's years of schooling.
(a) Does sibs have the expected effect? Explain. Holding meduc and feduc fixed, by how much
does sibs have to increase to reduce predicted years of education by one year? (A noninteger
answer is acceptable here.)
(b) Discuss the interpretation of the coefficient on meduc.
(c) Suppose that Man A has no siblings, and his mother and father each have 12 years of edu-
cation. Man B has no siblings, and his mother and father each have 16 years of education.
What is the predicted difference in years of education between B and A?

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