What is the predicted probability of labor force participation for a woman who has 13 years of education and 3 children under the age of 6 years old ? What is the predicted probability of labor force participation for a woman who has 13 years of education and 5 children under the age of 6 years old ? if a woman has 15 years of education , what is the predicted change in probability of labour force participation when going from 1 young child to 2 young child ? Write the advantages and disadvantages of using this model .
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
What is the predicted
What is the predicted probability of labor force participation for a woman who has 13 years of education and 5 children under the age of 6 years old ?
if a woman has 15 years of education , what is the predicted change in probability of labour force participation when going from 1 young child to 2 young child ?
Write the advantages and disadvantages of using this model .
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