TABLE 13-17 Given Below Are Results from the Regression Analysis Where the Where

question 227

Short Answer

TABLE 13-17
Given below are results from the regression analysis where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Unemploy) and the independent variables are the age of the worker (Age), the number of years of education received (Edu), the number of years at the previous job (Job Yr), a dummy variable for marital status (Married: 1 = married, 0 = otherwise), a dummy variable for head of household (Head: 1 = yes, 0 = no) and a dummy variable for management position (Manager: 1 = yes, 0 = no). We shall call this Model 1.


Model 2 is the regression analysis where the dependent variable is Unemploy and the independent variables are Age and Manager. The results of the regression analysis are given below:


-Referring to Table 13-17 Model 1, what is the standard error of estimate?

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Definitions:

Average Tax Rate

The ratio of total taxes paid to total income, indicating the percentage of income that goes to taxes.

Inelastic Supply

A situation where the quantity supplied of a good or service does not change significantly in response to price changes.

Health Care

The organized provision of medical services to individuals or communities.

Medical Services

Professional care or treatment provided by doctors and other health professionals to maintain or improve health.