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Unformatted text preview: If a person has completed 12 years of school, what is their estimated wage? W = 2 + 0.5(12) = 2 + 6 = $8 If a person has completed 16 years of school, what is their estimated wage? W = 2 + 0.5(16) = 2 + 8 = $10 4. It is believed that the number of children you have affects the number of hours worked. Let C stand for number of children and H stand for number of hours worked. Set up a regression equation that could be used to estimate this. H = + C...
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This note was uploaded on 04/06/2008 for the course ECON 380 taught by Professor Gradstudent during the Fall '07 term at UNC.
- Fall '07