Unformatted text preview: , run a regression with Wage ( X 1) as the dependent variable and Experience ( X 9) as the independent variable. Report the computed values for the regression coeﬃcients, their standard errors, and the R 2 . Interpret your ﬁndings. 5. Using wages.xls again, suppose you were to run a regression with Wage ( X 1) as the dependent variable and Experience ( X 9) and Age ( X 11) as the independent variables. Explain why using both Experience and Age as independent variables (at the same time) may not be a sound way to proceed. 6. Using realestate.xls , run a regression with Price as the dependent variable and Size and Bath as the independent variables. Report all three regression coeﬃcients, and indicate which (if any) are statistically signiﬁcant at the 0.05 level. By how much can we expect the selling price of a home to increase if we add an additional bathroom? Interpret your ﬁndings. 1...
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 Spring '08
 HALEY
 Economics, Statistics, Regression Analysis, Statistical hypothesis testing, Ronald Fisher, M. Ryan Haley

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