Details of this Paper

Regression statistics is: R-Squared = 0.041...

Description

Solution


Question

Regression statistics is: R-Squared = 0.041663 F statistic = 23.51537 Adjusted R-Squared=0.039834 Prob > F = 0.000001 Standard Error= .618783 Number of Obs =526 Mean (wage) = 5.896103 Std Dev (wage) =3.693086 Coefficients Standard Error t-stat Intercept(wage) 4.182696 0.13880 13.32579 age 0.057925 0.011945 4.84926 p>|t| Lower 95% Upper 95% Intercept (wage) 0.0 3.567503 4.797889 age 0.000001 0.034513 0.081337 y = 0.0579x + 4.1827 R? = 0.0417 ?It is possible that workers with more experience at their current job are more productive and earn higher wages. What is the correlation coefficient between job tenure and age? Based on this correlation coefficient, do you think the estimate of ?1 from (a) is biased up or down? Why?

 

Paper#13119 | Written in 18-Jul-2015

Price : $25
SiteLock