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 3:12 pm
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.