Mathematics, 27.05.2020 20:01 gobbler80
The data below is a random sample of 3 observations drawn from the United States population. Use the data to answer the following questions
i. Find 95% confidence intervals of the population mean of experience and wage.
ii. Estimate rhoe, w, the correlation between the variables experience and wage.
iii. Find βˆ 1 and βˆ 0, the estimates of the parameters in the following regression equation wage = β0 + β1education + ϵ
iv. Predict wages for a person with 15 years of education using your regression estimate.
v. Find the R2
wage education
16.20 12
12.36 13
14.40 12
12.00 12
Answers: 1
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