You extract approximately 5,000 observations from the Current Population Survey (CPS) and estimate the following regressionfunction: AHE
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Question:
You extract approximately 5,000 observations from the Current Population Survey (CPS) and estimate the following regressionfunction:
AHE=3.32−0.45×Age, R2=0.02, SER=8.66 | |
(1.00) (0.04) |
where AHE is average hourly earnings, and Age is the individual's age.
Given the specification, your 95% confidence interval for the effect of changing age by 5 years is approximately:
A. [$2.32, $4.32].
B. [$1.86, $2.64].
C. [$1.35, $5.30].
D. Cannot be determined given the information provided.
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