3 Interpret And Use A Regression Print Out As Part Of An Economic Study A Researcher Has Compiled A Database That Has 1 (73.94 KiB) Viewed 18 times
3 Interpret And Use A Regression Print Out As Part Of An Economic Study A Researcher Has Compiled A Database That Has 2 (44 KiB) Viewed 18 times
3-Interpret and use a regression print-out. As part of an economic study, a researcher has compiled a database that has data that relates annual income in dollars and years of education. The researcher ran a regression and generated the following results. Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression Residual Total Regression Assignment Homework Intercept Years of Education. X = 14: 0.878533406 0.771820945 0.768895573 11575.74718 df 80 1 78 79 SS 35353584373 10451837974 45805422348 Standard Error Coefficients -22561.11746 4295.941289 4856.740326 299.0041325 X(X-X)=400 hi = 0.229 MS 3.54E+10 1.34E+08. t Stat -5.25173 16.24305 F 263.8368 P-value 1.27E-06 9.59E-27 Accessit
Your job as a knowledgeable reviewer is to look over this data and: a. Conduct the hypothesis tests necessary to determine if there is a true relationship between the independent and dependent variable and, b. Determine the percentage of variation in the dependent variable explained by the independent variable and, c. Write out the estimated equation of the regression line and interpret the parameter estimates (estimates of Bo and B₁) and, d. Using the information given above, generate a 95% confidence interval for the average annual income (Mean of Y) of a person with 14 years of education (an AA degree). (See pps. 445 and 446 of the textbook.
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