Suppose you have the following wage and education data for a sample with 3 observations: obs. no. 1 2 3 wage educ ($/hr) (years) 10.73 11 13.44 12 18.05 16 Calculate the coefficient for the regression of wage on education through the origin (i.e. 1 in the model wage = Bieduc). Express your answer out to two (2) decimal points.

Suppose you have the following wage and education data for a sample with 3 observations: obs. no. 1 2 3 wage educ ($/hr) (years) 10.73 11 13.44 12 18.05 16 Calculate the coefficient for the regression of wage on education through the origin (i.e. 1 in the model wage = Bieduc). Express your answer out to two (2) decimal points.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 1.3CE

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