Question

Question 10: Assume a regression prediction takes the following form: Wages = 607.3 + 3.85Age -0.0423Age2 What is the value for Age at the maximum of this prediction? (Hint: you can use something you saw in calculus to do it fast or you can waste time trying it out with numbers in excel). A) 29.38 B) 607.3 C) 91.02 D) 40.5 E) 51.2 F) 38.5 G) 45.50 H) 48.7

Answer 1

Wage = 607.3 + 3 85 Age -0.0423 Roge dwage = 3.85- 0.0846 Age dage o = 3.85 - 0.0846 Age 0.0846 Age = 3.85 - Age = 45.50/ So comect option is CG).