Statistics Canada collects census data about Canadians every five years. The department provides data files that contain a representative sample of anonymous individual responses to census surveys. A subset of these data is provided in the file DYS14-30. There is information on Canadians from Alberta and Ontario. Age and wages and salaries are shown for individuals who had non zero wages and salaries in the data set.7 Use an indicator variable for province, and build a regression model for wages and salaries, based on age and province. Is province a significant explanatory variable in this model?
Answer to relevant QuestionsIn the latter part of 2008, stock markets around the world declined significantly. Exhibit 1.8 shows two graphs depicting the Standard and Poor’s Toronto Stock Exchange Composite Index for the period from January 2, 2007 ...Create a multiple regression model for the Salaries data set that includes years of postsecondary education and age as explanatory variables. Interpret the model. Create histograms of the residuals for the models discussed in Exercises 6, 7, and 8 above. Do these histograms appear to be at least approximately normal? Think about your analysis in Exercise 14. Is the year of the car a quantitative variable? Create an indicator variable for the year of the car, and rebuild the model. Describe the models, and choose the best one. In ...Refer to the Excel output shown in Exhibit 14.32 above. Test the individual coefficients for significance. Use a 5% level of significance.
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