You have obtained a sub-sample of 1744 individuals from the…
Questions
Yоu hаve оbtаined а sub-sample оf 1744 individuals from the Current Population Survey (CPS) and are interested in the relationship between weekly earnings and age. The regression, using heteroskedasticity-robust standard errors, yielded the following result: where Earn and Age are measured in dollars and years respectively. (a) [20 pts] Interpret the results. (The slope coefficient on "Age", R-squared, and SER) (b) [20 pts] Why should age matter in the determination of earnings? Do the results suggest that there is a guarantee for earnings to rise for everyone as they become older? Do you think that the relationship between age and earnings is linear?
Yоu hаve оbtаined а sub-sample оf 1744 individuals from the Current Population Survey (CPS) and are interested in the relationship between weekly earnings and age. The regression, using heteroskedasticity-robust standard errors, yielded the following result: where Earn and Age are measured in dollars and years respectively. (a) [20 pts] Interpret the results. (The slope coefficient on "Age", R-squared, and SER) (b) [20 pts] Why should age matter in the determination of earnings? Do the results suggest that there is a guarantee for earnings to rise for everyone as they become older? Do you think that the relationship between age and earnings is linear?
Yоu hаve оbtаined а sub-sample оf 1744 individuals from the Current Population Survey (CPS) and are interested in the relationship between weekly earnings and age. The regression, using heteroskedasticity-robust standard errors, yielded the following result: where Earn and Age are measured in dollars and years respectively. (a) [20 pts] Interpret the results. (The slope coefficient on "Age", R-squared, and SER) (b) [20 pts] Why should age matter in the determination of earnings? Do the results suggest that there is a guarantee for earnings to rise for everyone as they become older? Do you think that the relationship between age and earnings is linear?
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