The variable descriptions and Stata outputs from the simple and multiple linear regression are available in the picture that i have provided. Using those informations, can you answer the following questions. - Firstly, report the results from the regression of wage on educ in the form of a fitted line, with the standard error of coefficients presented in parentheses underneath the corresponding coefficients. Round the numbers to two decimal places. - Is the coefficient of educ statistically significant? - Now consider the multiple linear regression that includes KWW as one
- The variable descriptions and Stata outputs from the simple and multiple linear regression are available in the picture that i have provided. Using those informations, can you answer the following questions.
- Firstly, report the results from the regression of wage on educ in the form of a fitted line, with the standard error of coefficients presented in parentheses underneath the corresponding coefficients. Round the numbers to two decimal places.
- Is the coefficient of educ statistically significant?
- Now consider the multiple linear regression that includes KWW as one of the explanatory variables. Between this regression and the simple linear regression in part (a), which model is more likely to measure the ceteris paribus effect of education on wages? Explain and when possible use evidence to support your answer.
Can you also provide the resource as well, please?
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What happened to the standard error of educ after adding KWW to the model? Discuss.
Do you agree or disagree with the following statement? “If the log of the dependent variable appears in the regression, changing the unit of measurement of any independent variable affects both the slope and intercept coefficients”. Discuss by providing the resource.