Given log linear model that says Ln Income =B₀₊B₁Education, we interpret the results as: A) A one year increase in education is expected to lead to a B₁ change in income. B) A one year increase in education is expected to lead to a B₁% change in income. C) A one year increase in education is expected to lead to a B₁/100 change in income. D) A one percent increase in education is expected to lead to a B₁/100 change in income

Question

Quizplus · Accepted Answer

The coefficient B₁ represents the percentage change in income for a one-unit increase in education. Therefore, the interpretation is that a one year increase in education is expected to lead to a B₁% change in income.

Given Log Linear Model That Says Ln Income =B0+B1Education, We

Given Log Linear Model That Says Ln Income =B₀₊B₁Education, We