Question: Use Wage data and create Multiple regression table but this time as input use Only two variables: EDUCATION and EXPERIENCE to predict WAGE. What is

Use Wage data and create Multiple regression table but this time as input use Only two variables: EDUCATION and EXPERIENCE to predict WAGE. What is the approximate error of this prediction?If this person had one more year of work Experience and two more years of EDUCATION how much higher would his/her predicted wage be?

Use Wage data and create Multiple regression table but this time as

Use Wage data and create Multiple regression table but this time as input use ONLY two variables: EDUCATION and EXPERIENCE to predict WAGE. Answer questions 10 to 13. Choose the best fitting answe 10. If a person has Number of years of EDUCATION = 14 and Number of years of work EXPERIENCE = 2 what would be his/her predicted WAGE? (5 points) O a. 2.43 O b. 6.42 O c. 8.27 O d. 13.17 O e. None of these 11. What is the approximate error of this prediction? (5 points) O a. 0.20 O b. 4.6 O c. -4.90 O d. 6.56E-05 O e. None of these 12. If this person had one more year of work EXPERIENCE and two more years of EDUCATION how much higher would his/her predicted WAGE be? (5 points) O a. 1.96 O b. 1.14 O c. 1.85

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