The figure 1 below presents the relationship between wage (million VND per month) and education (years...
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The figure 1 below presents the relationship between wage (million VND per month) and education (years of schooling) of 20 workers. 25 Wage (milliom VND per month Ō 20 15 5 Wage = 5.21 +0.74* Education 5 60 ene 10 Education (Years of Schooling) Figure 1. The relationship between wage and education 15 20 a. Comment on the relationship between wage and education in Figure 1? If compute the correlation between wage and education, what is the sign of the correlation coefficient (positive or negative)? (5pts). b. Using the above data, a researcher estimates a linear equation describing relationship between wage and education as follows: Wage = 5.21 +0.74*Education. Let a = 5.21, and b = 0.74, Explain the meaning of a and b? (5pts) c. Suppose that worker A has 10 years of schooling while worker B has 5 years of schooling. What is the predicted difference in monthly wage between A and B? (5pts) The figure 1 below presents the relationship between wage (million VND per month) and education (years of schooling) of 20 workers. 25 Wage (milliom VND per month Ō 20 15 5 Wage = 5.21 +0.74* Education 5 60 ene 10 Education (Years of Schooling) Figure 1. The relationship between wage and education 15 20 a. Comment on the relationship between wage and education in Figure 1? If compute the correlation between wage and education, what is the sign of the correlation coefficient (positive or negative)? (5pts). b. Using the above data, a researcher estimates a linear equation describing relationship between wage and education as follows: Wage = 5.21 +0.74*Education. Let a = 5.21, and b = 0.74, Explain the meaning of a and b? (5pts) c. Suppose that worker A has 10 years of schooling while worker B has 5 years of schooling. What is the predicted difference in monthly wage between A and B? (5pts)
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Solution a The relationship between wages and education shown in the graph suggests a positive corre... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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