Suppose you wanted to estimate the effect of being educated on being in the labor force. You estimate a model with two variables, LF is a binary variable = 1 if the person is participating in the labor force and the variable educ measures the number of years of education a person has received. You get the following estimated regression: LF = 0.1 + 0.15educ Which of the following is the correct interpretation about the effect of an additional year of education? O A 1% increase in education increases the number of those participating in the labor force by 15 percentage points. A additional year in education increases the number of those participating in the labor force by 0.15 percentage points A additional year in education increases the number of those participating in the labor force by 0.15% An additional year of education increases the probability of participating in the labor force by 15 percentage points. O An additional year of education increases the probability of participating in the labor force by 25 percentage points. O A 1% increase in education increases the number of those participating in the labor force by 15 people.

Suppose you wanted to estimate the effect of being educated on being in the labor force. You estimate a model with two variables, LF is a binary variable = 1 if the person is participating in the labor force and the variable educ measures the number of years of education a person has received. You get the following estimated regression: LF = 0.1 + 0.15educ Which of the following is the correct interpretation about the effect of an additional year of education? O A 1% increase in education increases the number of those participating in the labor force by 15 percentage points. A additional year in education increases the number of those participating in the labor force by 0.15 percentage points A additional year in education increases the number of those participating in the labor force by 0.15% An additional year of education increases the probability of participating in the labor force by 15 percentage points. O An additional year of education increases the probability of participating in the labor force by 25 percentage points. O A 1% increase in education increases the number of those participating in the labor force by 15 people.

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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