Ordinary least squares method was used to fit a regression model to predict income (in thousands of dollars) from the following predictors: X1 = education X2 = gender (where male = 0 and female = 1) X3 = interaction between education and gender The model produced the following coefficients: B, = -11.52, B, = 2.99, ß, = 1.01, ß3 = -0.94. On average, how much income do men and women get if they have 20 years of education? %3D %3D Key A Men: $48.28 thousand; Women: $30.49 thousand B Men: $48.28 thousand; Women: $28.08 thousand C Men: $59.80 thousand; Women: $41.00 thousand D Men: $59.80 thousand; Women: $20.20 thousand

Ordinary least squares method was used to fit a regression model to predict income (in thousands of dollars) from the following predictors: X1 = education X2 = gender (where male = 0 and female = 1) X3 = interaction between education and gender The model produced the following coefficients: B, = -11.52, B, = 2.99, ß, = 1.01, ß3 = -0.94. On average, how much income do men and women get if they have 20 years of education? %3D %3D Key A Men: $48.28 thousand; Women: $30.49 thousand B Men: $48.28 thousand; Women: $28.08 thousand C Men: $59.80 thousand; Women: $41.00 thousand D Men: $59.80 thousand; Women: $20.20 thousand

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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