Consider the regression between average hourly earnings (AHE, in dollars) and years of education (EDUC, in years) on 14,

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Consider The Regression Between Average Hourly Earnings Ahe In Dollars And Years Of Education Educ In Years On 14 1 (264.24 KiB) Viewed 86 times

Consider the regression between average hourly earnings (AHE, in dollars) and years of education (EDUC, in years) on 14,925 individuals: Estimated (AHE) = -4.58 + 1.71 (EDUC), R² = 0.182, SER= 9.30 a) Interpret both coefficients and the regression R². b) Why should education matter in the determination of earnings? Do the results suggest that there is a guarantee for average hourly earnings (AHE) to rise for everyone as they receive an additional year of education? c) Do you think that the relationship between education and average hourly earnings is linear? Explain. d) The average years of education in this sample is 13.5 years. What is the mean of average hourly earnings (AHE) in the sample? e) Interpret the measure of SER. What is its unit of measurement