Multiple Choice
For the 2012 GSS, the regression of respondent's income in constant dollars (Y) on years of education (X) yields the following equation: Y = -45,204.31 + 5,293.56X.
A) What is the value of the regression coefficient?
B) How much does income (Y) increase for each increase of one year of education?
C) What is the predicted income in 2012 for a person with a bachelor's degree (16 years of education) ?
D) The correlation between income and years of education is .28. What does this tell you about this relationship?
Correct Answer:
Answered by ExamLex AI
Correct Answer:
Answered by ExamLex AI
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