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. What is the lower bound of a
95% prediction interval of annual wages (in $'000) for an employee
with 10 years of study. Assumer the h Statistic is 0.10.
greater than $20 but less than $30
less than $20
greater than $20 but less than $36
greater than $36
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. What is the lower bound of a
95% prediction interval of annual wages (in $'000) for an employee
with 10 years of study. Assumer the h Statistic is 0.10.
greater than $20 but less than $30
less than $20
greater than $20 but less than $36
greater than $36