Question 4 (10 marks): Suppose that you have collected data on teenage workers in the fast-food...
Question 4 (10 marks):
Suppose that you have collected data on teenage workers in the
fast-food industry, and that you have performed various regression
analysis.
Suppose that a regression yields the following results:
Wi =-1+0.3Ai (0.1)
Where W is the hourly wage rate (in dollars) and A is the age (in years). The standard error is in parentheses. A second regression yields this estimate:
Wi = -1 + 0.3 Ai - 0.01(Ai)2
(a) How much is a 20-year-old predicted to earn based on the first regression?
(b) Are you confident that wages actually rise with age?
Why?
(c) How much is a 20-year-old predicted to earn based on the second
regression?
Homework Answers
a) Wi = 1+0.3Ai
at Ai=20 predicted value of Wi =1+0.3(20)
Wi = 7
b) Wi = 1+0.3Ai as coefficient of Ai is 0.3 which is a positive value means that if age increases by 1 year hourly wage would increase by $0.3.
0.3 is also known as slope coefficient
c) Wi = 1+0.3Ai -0.01A^2
at Ai=20 predicted value of Wi =1+0.3(20)-0.01(20)^2
Wi = 1+6-4
Wi=3
Add Answer to:
Question 4 (10 marks):
Suppose that you have collected data on teenage workers in the
fast-food...
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know what you think. I will up vote for good content - thank
you!
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Here is the information that is needed for this work:
A researcher interviews 50 employees of a large manufacturer and colects data on each worker's hourly wage (Wage), years of higher education (EDUC), experience (EXPER) and age AGE). The data can be found in the SPSS 6 Wage excel data file posted on Connect. Use SPSS to generate the output. Upload the one page Word file on to Connect by the due date. The face to face and hybrid students...
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Below are 4 articles. (20 points each) You must fill in the
answer sheet for each article. Be sure and explain how the changes
should impact Pe and Qe Classify as a change in demand or a change
in quantity demanded, a change in supply or a change in quantity
supplied. Make sure you fill in the graphs the same way I did in
the sample graphs in the sections from my notes for session 3 Use ?
(question mark)...
Please show all steps with formulas. I have viewed other
answers, however, I do not think wage is a variable cost. Let me
know what you think. I will up vote for good content - thank
you!
Case ON-THE-GO: Cost-Volume-Profit Analysis Peter Kankel, the CFO of On-the-Go convenience stores, had only a couple of hours to decide what he would recommend. Decisions to add products are often challenging. Kankel knows that modern convenience stores have to do more than just...
Please use own words. Thank you.
CASE QUESTIONS AND DISCUSSION > Analyze and discuss the questions listed below in specific detail. A minimum of 4 pages is required; ensure that you answer all questions completely Case Questions Who are the main players (name and position)? What business (es) and industry or industries is the company in? What are the issues and problems facing the company? (Sort them by importance and urgency.) What are the characteristics of the environment in which...
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