Suppose a labor economist is interested in the effect of experience and education on income. He obtains
Question:
Suppose a labor economist is interested in the effect of experience and education on income. He obtains the following regression.
Interpret the regression coefficients for EXPER and EDUC.
Transcribed Image Text:
INCOME = 24, 000 + 1,000 (EXPER) + 500 (EDUC) where INCOME = income measured in dollars EXPER= years of experience EDUC = years of education
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Related Book For
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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