Business, 03.06.2021 18:10, stinematesa

A. Compute the Ordinary Least Squares (OLS) regression of hourly wage on years of education. That is, treat the hourly wage as the dependent variable (Y) and the years of education as the independent variable (X). What is the equation of the regression line? Interpret the result. b. Compute the fitted values of the hourly wage for each observations of the years of education.
c. Compute the residuals for each observation.
d. What is the R-squared of this OLS regression? Interpret the result.

Index Year of education Hourly wages
1 12 15.0
2 10 8.0
3 14 14.0
4 16 20.0
5 13 18.0
6 18 30.0

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A. Compute the Ordinary Least Squares (OLS) regression of hourly wage on years of education. That is...