Business Statistics

Instructions: Prepare your answers using Excel and show your work to get full or partial credit.
Question 1:

Using the file Wages.xlsx which contains information of working individuals, for a nationwide firm (Value 7 points).


a) Run Descriptive Statistics for the variables Education, Number of siblings, Mother’s years of education and Father’s years of education. Show your output. What is the mean of each of these variables? What is the number of observations (n)?


b) Estimate a regression equation of education on the number of siblings, mother’s years of education and father’s years of education as independent variables. Show the Excel output.


c) Write the Sample Regression Function


d) Interpret the coefficients of the regression


e) Are the coefficients statistically significant at the 95% confidence level? Write down the hypothesis that you are testing for each coefficient, and explain your conclusions.


f) Suppose that Tom has 3 siblings, and his mother has 10 years of education and his father has 14 years of education. Henry has no siblings, and his mother and father each has 16 years of education. Using the regression equation, calculate the estimated education for Tom and Henry


g) What is the predicted difference in years of education between Tom and Henry?

asked by Katie

Respond to this Question

First Name

Your Response

Similar Questions

  1. geometry

    User: Courtney Thompson In Course: Geometry V8 ( 2167) Instructor: Tracie Morgan -------------------------------------------------------------------------------- WARNING: You must not leave this exam form! If you try to click back
  2. MATH PLS HELP

    19 WorkPad Note: In questions 19-21, remember to show all of the steps that you use to solve the problem. Be sure to use the text box where the question mark (?) first appears to show your mathematical work. You can use the
  3. Business Analytics statistics

    I don't under stand ho to get the answer to this excel question can anyone help? and email me back skylerbloo at netscape . net The assignment is in three parts: 1. An analytic section that you will submit as an Excel spread sheet
  4. managerial economics

    my cubic equation is O=C+aL+bL^2+cL3 how can i get the excel to help me to do this equation.I need to do a regression analysis to estimate the firm's short-run production function. see tarha question dated july 2,2007 for all of
  5. statistic

    1. Compute descriptive statistics for liberal art colleges and research universities in the Excel file colleges and universities. Compare the two types of colleges . what can you conclude.? 2.The Excel file MBA Student survey
  6. Business/ Strategic Management

    If you don't mind if you could give me TWO PRICES one for 1.) full assignment Deliverable Length:Tables count for 2 pgs and 4 pages in MS Word format Due Date: 6/18/2010 latest 6/19/2010 Research the British Petroleum website.
  7. finance firm's sales on credit

    In general, the larger the portion of a firm's sales that are on credit, the: A. lower will be the firm's need to borrow B. higher will be the firm's need to borrow C. more rapidly credit sales will be paid off D. more the firm
  8. statistics

    For this discussion you will need to come up with twenty different data points and enter them into the first column in Excel. The data points can be any numbers you want as long as there are twenty of them. You will then use the
  9. Statistics

    The assignment is in three parts: 1. An analytic section that you will submit as an Excel spread sheet 2. A PowerPoint presentation of 3 to 5 slides. 3. A narrative section that you will submit as a two to three page Word document
  10. English

    o Identify which paragraph was more effective and analyze why this is so. o Include a discussion of sentence variety and the rhythm of the author’s writing. o Focus on the writing rather than the opinions presented. o Underline

More Similar Questions