Session 2/ 2014 The EXCEL regression output is as follow SUMMARY OUTPUT Regressi

Question

Session 2/ 2014 The EXCEL regression output is as follow SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.93914628 0.88131755 0.183116614 526 ANOVA Significance MS Regression Residual Total 0.000 522 17.50354452 525 148.3297628 Intercept educ exper tenure Coefficients 0.657806065 0.13005356 0.014145698 0.001230792 Question 7 What is the interpretation of the estimated coefficient of experience (b2)? A. An increase in one year of working experience will increase the estimated wage by B. An increase in one year of working experience wil increase the estimated wage by C. An increase in one year of working experience will increase the estimated wage by D. An increase in one per cent of working experience will increase the estimated wage by $0.01, on average 0.01%, on average 1.41%, on average 0.01%, on average E. None of the above is correct Question 8 What is the value of A? A. 0.000 B. 0.8819 C. 148.3297628 D. 526 E. 1300.52

Explanation / Answer

Question 7

Here 1 = 0.01415 so

An increase in one year of working experience will increase the estimate wage by $ 0.01, on average.

Question 8

A = 1300.52

first SSE = SST - SSR = 148.3298 - 17.5035 = 130.8263

MSR = 130.8263 / 3 = 43.6087

MSE = 17.5035/522 = 0.03353

so F = MSE/ MSE = 43.6087/ 0.03353 = 1300.523

OPtion E is correct.

SUMMARY OUTPUT Regression Statistics Multiple R 0.93914628 R Square 0.881995735 Adjusted R Square 0.88131755 Standard Error 0.183116614 Observations 526 ANOVA df SS MS F Significance F Regression 3 130.8262183 43.60874 1300.523 0.000000 Residual 522 17.50354452 0.033532 Total 525 148.3297628

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