Question: 4. You have data from a large nationally-representative survey which collected information on people's wages, years of education, age, gender, and marital status. You

4. You have data from a large nationally-representative survey which collected information

4. You have data from a large nationally-representative survey which collected information on people's wages, years of education, age, gender, and marital status. You run a regression to test the determinants of wages and you get the results below. Use the 95% confidence level to interpret the results. T- Variable Coefficient SE(Coeff) CI statistic p- value Years of education Age Female (1/0) 200 65 50 [-80,180] -500 5 Married (1/0) 100 0.07 a. What is the interpretation of the coefficient on years of education (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points b. What is the interpretation of the coefficient on age (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points C. What is the interpretation of the coefficient on female gender (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points d. What is the interpretation of the coefficient on marital status (put in a sentence)? Is the coefficient statistically significant? Show me your work. 4 points

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!