Business, 18.02.2021 22:50 nocomprendoplshelp

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 exper = years of work experience You run the regression, and obtain the following results: wageˆ=14+1.8 educ+2.5 exper n = 200 R2 = 0.07 The predicted wage for an individual with 21 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 or False: Assuming you use the exact same data set as before, adding the explanatory variable bmi will always decrease the R2 . True False

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 23:30

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

Answers: 1

Answer

Business, 22.06.2019 01:30

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?

Answers: 1

Answer

Business, 22.06.2019 10:30

The card shoppe needs to maintain 21 percent of its sales in net working capital. currently, the store is considering a four-year project that will increase sales from its current level of $349,000 to $408,000 the first year and to $414,000 a year for the following three years of the project. what amount should be included in the project analysis for net working capital in year 4 of the project?

Answers: 3

Answer

Business, 22.06.2019 18:20

Principals are an administration career

Answers: 2

Answer

You know the right answer?

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

Questions