Question 110 pts Suppose you are interested in estimating the following model (c

Question

Question 110 pts

Suppose you are interested in estimating the following model

(c) If a worker's age increases by two years, earnings increase, on average, by $  per hour. (Round your response to four decimal places)

(d) Bob is a 31-year-old worker. Predict Bob's earnings using the estimated regression. Bob's predicted earnings are $  per hour. (Round your response to two decimal places)

Does age account for a large fraction of the variance in earnings across individuals (yes/no)?

College Distance Ahe Age 17.22756386 26 16.82692337 29 31.25 27 12.82051277 28 25.96153831 33 14.42307663 25 12.5 34 25.2530365 28 12.5 27 11.53846169 33 13 27 31.25 28 21.92307663 26 13.46153831 26 23.50427437 34 15 25 23.07692337 32 22.03525734 31 18.37606812 28 9.615385056 27 16.82692337 34 23.55769157 27 4.807692528 30 6.25 30 34.13461685 31 7.211538315 32 19.23077011 28 8.17307663 29 22.89803314 31 12.74038506 33 11.53846169 32 29.572649 33 10.43956089 26 18.26922989 27 29.80769157 33 27.73668671 28 14.42307663 26 21.63461494 27 14.42307663 30 14.42307663 31 15.38461494 28 13.46153831 25 45.19230652 31 21.63461494 29 34.18803406 30 19.23077011 29 10.57692337 32 12.01923084 31 24.03846169 34 26.44230843 29 16.82692337 28 19.23077011 28 18.26922989 34 16.82692337 28 14.90384579 30 20.19230843 26 5.161538601 31 6.25 26 33.90673065 30 12.69230747 28 32.77972031 33 25 32 10.09615421 30 14.02243614 28 32.96703339 31 22.11538506 26 12.5 27 34.2857132 28 34.18803406 28 22.72727203 34 22.26922989 33 6.677350521 34 18.75 31 28.84615326 29 19.23077011 29 8.17307663 32 14.42307663 27 38.46154022 34 12.01923084 27 28.36538506 29 21.63461494 31 11.22449017 31 21.15480804 33 10.98901081 34 5.769230843 30 24.51922989 30 9.615385056 29 7.692307472 25 15.38461494 27 26.70940208 28 15.38461494 31 18.02884674 33 12.5 28 12.01923084 28 8.653845787 26 8.653845787 26 13.94230747 26 9.518259048 31 38.46154022 33 12.69999981 31 Ahe

Explanation / Answer

a) B0= -0.3758

b) B1= 0.6389

c) Regression equation : Y= -0.3758 + 0.6389 * x

                                         Y1= -0.3758 + 0.6389 * (x+2)

                                         Y1-Y = 1.2778 (answer)

d) Y= -0.3758 + 0.6389 * 31 = 19.4301

R code:

d=chegg_1
lm(d$Age~d$age)
Y= -0.3758 + 0.6389 * x
Y1= -0.3758 + 0.6389 * (x+2)
Y1-Y
x=31
Y

I have put the data in chegg_1

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