MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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- You’ve run a regression of the effect of years of schooling on wages for a sample of 102,498 individuals. Your regression results are:
wage = 2.051 + 0.29 × Years of Schooling
(0.0802) (0.0168)
- Interpret the coefficients from this regression. (The coefficients are shown in the regression equation itself.)
- The numbers in parentheses under the equation are the standard errors of the estimates for the respective coefficients. Determine whether each coefficient is statistically significant at each of the conventional significance levels.
- The R2 for this regression is 0.284. Interpret the meaning of this value.
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