Human capital theory suggests that those who have invested in higher levels of education will be able to command higher
Posted: Sun Oct 03, 2021 11:09 am
Human capital theory suggests that those who have invested in
higher levels of education will be able to command higher wages. A
labour economist collected data on annual wages (Y, in $'000) and
years of study (X) from a random sample of 12 employees to test
this proposition. Assuming a linear relationship between Y and X,
the labour economist used a least-squares method and found that the
Y intercept = -23.50 and the slope = 9.73. Also, the sum of squares
total (SST) and the sum of squares regression (SSR) were equal to
11132.92 and 8726.91, respectively.
Based on this information, the standard error of the estimate is
equal to __________. Round your final answer to two decimal
places.
higher levels of education will be able to command higher wages. A
labour economist collected data on annual wages (Y, in $'000) and
years of study (X) from a random sample of 12 employees to test
this proposition. Assuming a linear relationship between Y and X,
the labour economist used a least-squares method and found that the
Y intercept = -23.50 and the slope = 9.73. Also, the sum of squares
total (SST) and the sum of squares regression (SSR) were equal to
11132.92 and 8726.91, respectively.
Based on this information, the standard error of the estimate is
equal to __________. Round your final answer to two decimal
places.