Mathematics, 10.10.2020 14:01, andr8aa

How do you interpret the estimated value of coefficient of EDU in the following equation: ln(SALARY)= 1 + 0.02ln(EDU)

where SALARY is annual salary (in thousands) and EDU is years of education?

a.
we predict that 1 year increase in years of education leads to $2000 increase in salary

b.
we predict that 1% increase in years of education leads to 2% increase in salary

c.
we predict that 1 year increase in years of education leads to 2% increase in salary

d.
we predict that 1% increase in years of education leads to 0.02% increase in salary

Answers: 1

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 18:00, nativebabydoll35

Two students were asked if they liked to read. is this a good example of a statistical question? why or why not? a yes, this is a good statistical question because a variety of answers are given. b yes, this is a good statistical question because there are not a variety of answers that could be given. c no, this is not a good statistical question because there are not a variety of answers that could be given. no, this is not a good statistical question because there are a variety of answers that could be given

Answers: 1

continue

Mathematics, 21.06.2019 19:30, jrassicworld4ever

Need now max recorded the heights of 500 male humans. he found that the heights were normally distributed around a mean of 177 centimeters. which statements about max’s data must be true? a) the median of max’s data is 250 b) more than half of the data points max recorded were 177 centimeters. c) a data point chosen at random is as likely to be above the mean as it is to be below the mean. d) every height within three standard deviations of the mean is equally likely to be chosen if a data point is selected at random.

Answers: 1

continue

Mathematics, 21.06.2019 22:00, costel8532

Which of the following graphs could represent a cubic function?

Answers: 1

continue

Mathematics, 21.06.2019 23:00, cakecake15

Solve the problem by making up an equation. a man could arrive on time for an appointment if he drove the car at 40 mph; however, since he left the house 15 minutes late, he drove the car at 50 mph and arrive 3 minutes early for the appointment. how far from his house was his appointment?

Answers: 1

continue

Do you know the correct answer?

How do you interpret the estimated value of coefficient of EDU in the following equation: ln(SALARY...