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We wish to determine a regression equation that relates the hourly wage in pesos to age (in years), gender and education (in years). Below is portion of the regression analysis derived using a software. *Note: under the gender variable: male and female categories are assigned a value of 0 and 1, respectively. Coefficients Standard Erro Degrees of freedom Intercept -313.958 102.3523 Regression 5270141 age 8.527 1.8308 Residual 6956380 121 education 46.3419 6.4502 Total 12226521 124 gender -98.0447 43.1113 a) Interpret the age, education and gender slope coefficients b) Are age and gender coefficients statistically significant at 92% Confidence Level, justify your answer

We wish to determine a regression equation that relates the hourly wage in pesos to age (in years), gender and education (in years). Below is portion of the regression analysis derived using a software. *Note: under the gender variable: male and female categories are assigned a value of 0 and 1, respectively. Coefficients Standard Erro Degrees of freedom Intercept -313.958 102.3523 Regression 5270141 age 8.527 1.8308 Residual 6956380 121 education 46.3419 6.4502 Total 12226521 124 gender -98.0447 43.1113 a) Interpret the age, education and gender slope coefficients b) Are age and gender coefficients statistically significant at 92% Confidence Level, justify your answer

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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We wish to determine a regression equation that relates the hourly wage in pesos to age (in years), gender and education (in years). Below is portion of the regression analysis derived using a software. *Note: under the gender variable: male and female categories are assigned a value of 0 and 1, respectively. Coefficients Standard Error SS Degrees of freedom Intercept -313.958 102.3523 Regression 5270141 3 age 8.527 1.8308 Residual 6956380 121 education 46.3419 6.4502 Total 12226521 124 gender -98.0447 43.1113 a) Interpret the age, education and gender slope coefficients b) Are age and gender coefficients statistically significant at 92% Confidence Level, justify your answer
Transcribed Image Text:We wish to determine a regression equation that relates the hourly wage in pesos to age (in years), gender and education (in years). Below is portion of the regression analysis derived using a software. *Note: under the gender variable: male and female categories are assigned a value of 0 and 1, respectively. Coefficients Standard Error SS Degrees of freedom Intercept -313.958 102.3523 Regression 5270141 3 age 8.527 1.8308 Residual 6956380 121 education 46.3419 6.4502 Total 12226521 124 gender -98.0447 43.1113 a) Interpret the age, education and gender slope coefficients b) Are age and gender coefficients statistically significant at 92% Confidence Level, justify your answer
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