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A researcher has estimated the relationship between salaries of 100 selected employees of an organization (shown as "EARN" in $/hour) and their years of education (shown as "YRSEDUC", in years) as per the following regression outcome with 5% level of significance (numbers are made up): Model 1: OLS, using observations 1-100 Dependent variable: EARN coefficient std. error t-ratio p-value const 3.32418 1.00223 3.317 0.0009 *** YRSEDUC 0.451931 0.0335255 13.48 5.73e-041 *** Mean dependent var 16.77115 Sum squared resid 598935.5 R-squared F(1, 7984) Log-likelihood S.D. dependent var 8.758696 S.E. of regression 8.661234 Adjusted R-squared 0.022131 P-value(F) 0.022254 181.7164 5.73e-41 -28571.28 Akaike criterion 57146.55 Schwarz criterion 57160.52 Hannan-Quinn 57151.33 Use the above findings to answer the following questions: A-Construct the 95% confidence interval of the slope coefficient. (Hint: There is no need to write the formula, you just need to show your calculations).

A researcher has estimated the relationship between salaries of 100 selected employees of an organization (shown as "EARN" in $/hour) and their years of education (shown as "YRSEDUC", in years) as per the following regression outcome with 5% level of significance (numbers are made up): Model 1: OLS, using observations 1-100 Dependent variable: EARN coefficient std. error t-ratio p-value const 3.32418 1.00223 3.317 0.0009 *** YRSEDUC 0.451931 0.0335255 13.48 5.73e-041 *** Mean dependent var 16.77115 Sum squared resid 598935.5 R-squared F(1, 7984) Log-likelihood S.D. dependent var 8.758696 S.E. of regression 8.661234 Adjusted R-squared 0.022131 P-value(F) 0.022254 181.7164 5.73e-41 -28571.28 Akaike criterion 57146.55 Schwarz criterion 57160.52 Hannan-Quinn 57151.33 Use the above findings to answer the following questions: A-Construct the 95% confidence interval of the slope coefficient. (Hint: There is no need to write the formula, you just need to show your calculations).

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 22SGR
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A researcher has estimated the relationship between salaries of 100 selected employees of an organization (shown as "EARN" in $/hour) and their years of education (shown as "YRSEDUC", in years) as per the following regression outcome with 5% level of significance (numbers are made up): Model 1: OLS, using observations 1-100 Dependent variable: EARN coefficient std. error t-ratio p-value const 3.32418 1.00223 3.317 0.0009 *** YRSEDUC 0.451931 0.0335255 13.48 5.73e-041 *** Mean dependent var 16.77115 Sum squared resid 598935.5 R-squared F(1, 7984) Log-likelihood S.D. dependent var 8.758696 S.E. of regression 8.661234 Adjusted R-squared 0.022131 P-value(F) 0.022254 181.7164 5.73е-41 -28571.28 Akaike criterion 57146.55 Schwarz criterion 57160.52 Hannan-Quinn 57151.33 Use the above findings to answer the following questions: A-Construct the 95% confidence interval of the slope coefficient. (Hint: There is no need to write the formula, you just need to show your calculations). B-Based on your results in part A above, is the slope coefficient significant or not? Briefly explain.
Transcribed Image Text:A researcher has estimated the relationship between salaries of 100 selected employees of an organization (shown as "EARN" in $/hour) and their years of education (shown as "YRSEDUC", in years) as per the following regression outcome with 5% level of significance (numbers are made up): Model 1: OLS, using observations 1-100 Dependent variable: EARN coefficient std. error t-ratio p-value const 3.32418 1.00223 3.317 0.0009 *** YRSEDUC 0.451931 0.0335255 13.48 5.73e-041 *** Mean dependent var 16.77115 Sum squared resid 598935.5 R-squared F(1, 7984) Log-likelihood S.D. dependent var 8.758696 S.E. of regression 8.661234 Adjusted R-squared 0.022131 P-value(F) 0.022254 181.7164 5.73е-41 -28571.28 Akaike criterion 57146.55 Schwarz criterion 57160.52 Hannan-Quinn 57151.33 Use the above findings to answer the following questions: A-Construct the 95% confidence interval of the slope coefficient. (Hint: There is no need to write the formula, you just need to show your calculations). B-Based on your results in part A above, is the slope coefficient significant or not? Briefly explain.
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