Business, 28.11.2019 05:31 eborkins

Aregression of average weekly earnings (awe, measured in dollars) on years age (measured in years) using a random sample of college-educated full- time workers aged 25-65 yields the following: awe 696.7+9.6 x age, r'-0.023, ser 624.1.
a. explain what the coefficient values 696.7 and 9.6 mean.
c. the regression r2 is 0.023. what are the units of measurement for the
d. what is the regression's predicted earnings for a 25-year-old worker?
e. will the regression give reliable predictions for a 99-year-old worker?
f. given what you know about the distribution of earnings, do you think of measurement for the ser? (dollars? years? or is ser unit-free? ) r2? (doliars? years? or is r2 unit-free? ) a 45-year-old worker? why or why not? it is plausible that the distribution of errors in the regression is nor- mal? (hint: do you think that the distribution is symmetric or skewed? what is the smallest value of earnings, and is it consistent with a normal distribution? ) g. the average age in this sample is 41.6 years. what is the average value of awe in the sample? (hint: review key concept 4.2.)

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