Business, 18.09.2021 23:00 jnoss44

Suppose you are interested in studying the determinants of wages. You plan to use the following model: wage=β0+β1educ+β2exper+u where wage = annual salary, in thousands of dollars educ = years of education expert = years of work experience You run the regression, and obtain the following results: wageˆ=12+1.1 educ+1.5 expert n300 R2 = 0.07 The predicted wage for an individual with 12 years of education and 5 years of experience is . The predicted wage for an individual with the same years of education but one additional year of work experience (that is, 6 years) is . The marginal effect of one extra year of work experience is . The R2 of this regression indicates that % of the variation in wage is explained by educ and exper together. Suppose you suspect that wages might be affected by the weight of each individual, either through discrimination based on weight by employers or decreased productivity, and therefore wages, brought on by an unhealthy weight. You decide to include body mass index (BMI) as a third explanatory variable to your regression. True
False:
Assuming you use the exact same data set as before, adding the explanatory variable bmi will always decrease the R2.
True
False"

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 08:00

Companies in the u.s. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. in 2011 hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. the following data show the number of cars in service (1000s) and the annual revenue ($ millions) for six smaller car rental companies (auto rental news website, august 7, 2012). excel file: data14-09.xls if required, enter negative values as negative numbers. a. select a scatter diagram with the number of cars in service as the independent variable. b. what does the scatter diagram developed in part (a) indicate about the relationship between the two variables? c. use the least squares method to develop the estimated regression equation (to 3 decimals). ŷ = + x d. for every additional car placed in service, estimate how much annual revenue will change. by $ e. fox rent a car has 11,000 cars in service. use the estimated regression equation developed in part (c) to predict annual revenue for fox rent a car. round your answer to nearest whole value. $ million hide feedback partially correct

Answers: 1

Answer

Business, 22.06.2019 18:00

Match the different financial task to their corresponding financial life cycle phases

Answers: 3

Answer

Business, 22.06.2019 18:30

Hilary works at klothes kloset. she quickly the customers, and her cash drawer is always correct at the end of her shift. however, she never tries to "upsell" the customers (for example, by asking if they would like to purchase earrings to go with the shirt they chose or by suggesting a purse that matches the shoes they are buying). give hilary some constructive feedback on her performance.

Answers: 3

Answer

Business, 22.06.2019 19:00

The demand curve determines equilibrium price in a market. is a graphical representation of the relationship between price and quantity demanded. depicts the relationship between production costs and output. is a graphical representation of the relationship between price and quantity supplied.

Answers: 1

Answer

You know the right answer?

Suppose you are interested in studying the determinants of wages. You plan to use the following mode...

Questions

Engineering, 07.11.2020 01:30

Who wants to be my friendd...