Question

The unemployment rate can vary from one state to another, and in 2008 the standard deviation was 1.2% for the percent unemployed, which averaged 5.3% at the time. Table 12.5.5 shows these unemployment rates together with two possible explanatory variables: the educational level (percentage of college graduates for 2007) and the amount of federal spending (federal funds in dollars per capita, for 2007). To explore how well unemployment can be explained by these additional variables, please look at the multiple regression results from MINITAB in Table 12.5.6. Write a paragraph summarizing the strength of the connection. In particular, to what extent do education and federal funding explain the cross-section of unemployment across the states?
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  • CreatedNovember 11, 2015
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