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- What are the commonalities and differences between regression and correlation?
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- Economics you learned four steps that should be used to evaluate a regression model. What is the first step and why is it so important?Give typing answer with explanation and conclusion if education is heavily affected by IQ and IQ is closely correlated with both wage and education level, how would a regression of wage on education be biased? What regression violation is this? (For econometrics)Can we compare the linear-log model and the log-log model? Which of the log regression models best fits the data?
- Each cell represents a regression with a different outcome variable from Krueger’s (1993) study of workers who use computers. The left hand side variable is log wages. Answer based on column 2 of the above regression table. 1. Write a sentence that explains the relationship the regression is describing in row 2. 2. What is the number in parenthesis? What is it trying to communicate? 3. Write a causal statement that captures what the authors are trying to argue in row 2.What are 2 interpretations of the slope of a regression line?For this question I cannot completely understand how to solve given it is a cournot model based question. Could I have help