A Relationship Was Found Between Education and Income

question 3

Multiple Choice

A relationship was found between education and income.Tables A and B are the partials controlling for sex.What do these tables indicate?

• A)replication
• B)specification
• C)explanation
• D)distorter
• E)interpretation

---

Definitions:

Expected Utility Function

An expected utility function quantifies an individual's preferences under uncertainty, ranking them according to the expected level of satisfaction or utility.

Sure Payment

A guaranteed or fixed payment that is certain to be paid, without any risk or fluctuation.

Probability

A quantification of how probable an event is, with the scale going from 0 to 1.

Lottery

A lottery is a form of gambling which involves drawing lots for a prize, or the allocation of a resource or a chance event resulting in a significant gain to the holder.