MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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- Consider the following estimated regression model relating annual salary to years of education and work experience. Estimated Salary = 10,815.11 +2563.46 (Education) +897.49(Experience) Suppose two employees at the company have been working there for five years. One has a bachelor's degree (8 years of education) and one has a master's degree ( 10 years of education). How much more money would we expect the employee with a master's degree to make? Answer Tables Keypac Keyboard Shortcuarrow_forwardConsider the following estimated regression model relating annual salary to years of education and work experience. Estimated Salary = 10,896.07 + 2755.34 (Education) + 773.89 (Experience) Suppose two employees at the company have been working there for five years. One has a bachelor's degree (8.years of education) and one has a master's degree ( 10 years of education). How much more money would we expect the employee with a master's degree to make?arrow_forwardAn econometric model is a multiple linear regression model if Question 10Select one: a. it explains the average value of y as a linear function of several explanatory variables b. it explains the sample mean of y as a function, linear in the parameters , of several x c. it explains y as a linear function of several x , the explanatory variables d. it explains the average of y as a function of several x e. none of the answers is correctarrow_forward
- The percentage of adults who smoke in America is given below. Year America 1970 37.4 mon n 1980 33.2 1990 25.3 2000 23.1 2010 19.4 a) Write the linear regression model for A(x), representing the percentage of adult smokers in America x years since 1970. [Use your calculator OR Desmos to find the equation, Round coefficients to the nearest 100"] b) What is the slope of A(x)? Explain its meaning. c) Solve A(x) = 15. Show your work. Explain the meaning of your answer. d) Suppose in 2005, there were approximately 200 million adults in America. Use your model to estimate how many were smokers. Show how you get your answer.arrow_forwardConsider the following OLS regression results, In(inc)=1.970+.083educ, R²=.186, where inc represents annual income (in $1000s) and educ represents years of education. The slope estimate on years of education can be interpreted as an additional year of education is associated with an .083% increase in income. an additional year of education is associated with an 8.3% increase in income. a 1% increase in education is associated with an increase in income of $83. a 1% increase in education is associated with an increase in income of $8,300.arrow_forward2arrow_forward
- he table shows the minimum wage rates for the United States during different years. Year 1978 1979 1980 1990 1991 1996 1997 2007 2008 2009 Minimum hourly wage ($) 2.65 2.90 3.35 3.80 4.25 4.75 5.15 5.85 6.55 7.25 Write the least squares regression equation that models the data. Let x = time in years since 1900 and let y = minimum hourly wage. Use the equation to estimate the minimum hourly wage of a U.S. worker in 2025. Show your work. Answer:arrow_forwardAssume there is a positive linear correlation between the variable R (Return rate in percent of a financial investment) and the variable t (age in years of the investment) given by the regression equation R= 2.3t + 4.8 A. Without further information, can we assume there is a cause-and-effect relationship between the return rate and the age of the investment? B. If the investment continues to grow at a constant rate, what is the expeted return rate when the investment is 7 years old? C. If the investment continues to grow at a constant rate, how old is the investment when the return rate is 30%?arrow_forwardConsider the following estimated regression model relating annual salary to years of education and work experience. Estimated Salary = 10,160.10 +3147.75(Education) + 1230.34(Experience) Suppose an employee with 8 years of education has been with the company for 20 years (note that education years are the number of years after 8th grade). According to this model, what is his estimated annual salary? Answer Tables Keypad Keyboard Shortcutsarrow_forward
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