Question

In: Statistics and Probability

2. Consider the following data on salaries and experience. Persons 2,4,6,8,and 9 have MBA degrees. All...

2. Consider the following data on salaries and experience. Persons 2,4,6,8,and 9 have MBA degrees. All others only have undergraduate degrees.

Calculate the regression of Salary on Experience within a model that controls for whether a person has an MBA or not.

b. Print the data set that allows you to do this regression. Sketch the graph the estimated regression that clearly indicates the impact of a MBA degree on Salary.

c. What is the market value of the MBA degree?

Person Salary Experience

1 $130,468 10 Years

2 62,250 1

3 50,000 2.3

4 140,000 9

5 110,000 8

6 80,050 2.8

7 95,772 7

8 110,000 6

9 87,752 4.2

10 79,290 5

Expert Solution

here,92.34% of the variation in salary

orchestra answered 3 years ago

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