1 Inequality in the US States (25 pts) Using the states data set and the followi

Question

1 Inequality in the US States (25 pts) Using the states data set and the following variables (ineq, obamawin, medinc, minwage, and hsdiploma), run a regression that attempts to explain inequality (the percentage of income owned by each state's top ten percent of income earners). First, interpret the coefficients on the minwage and obamawin (did Obama win the state in 2012; yes-1, no-0) variables. Second, how good is the fit? Next, using the model above, create a residual plot that labels the biggest three residuals (use id.n-3). What do you observe? ·Generate an added variable plot (avPlot) for medinc (label some of the outliers; set id.n=3; it may show more than 3). What do you observe? . Add an interactive term between obamawin and hsdiploma. Interpret the coefficient on the obamawin dummy term and the interaction term. » Using visreg, plot the interaction

Explanation / Answer

Yes =1 inequality of a variables inequality Obama in medicals minwage and hsdiploma are the top tens percent of the the second is obamawin

• We observed that the variables biggest lable hsdiploma

• coefficient of the obamawin and the dummy term the interaction term is the ineq

• plot the interaction of medinc

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.