You have obtained a sub-sample of 1744 individuals from the Current Population Survey
(CPS)and are interested in the relationship between weekly earnings and age.The
regression, using heteroskedasticity-robust standard errors, yielded the following result: $$\widehat { \text { Earn } } = 239.16 + 5.20 \times \text { Age } , R ^ { 2 } = 0.05 , \text { SER } = 287.21 .$$ where Earn and Age are measured in dollars and years respectively.
(a)Interpret the results.

Question

Quizplus · Accepted Answer

The Answer of You have obtained a sub-sample of 1744 individuals from the Current Population Survey
(CPS)and are interested in the relationship between weekly earnings and age.The
regression, using heteroskedasticity-robust standard errors, yielded the following result: $$\widehat { \text { Earn } } = 239.16 + 5.20 \times \text { Age } , R ^ { 2 } = 0.05 , \text { SER } = 287.21 .$$ where Earn and Age are measured in dollars and years respectively.
(a)Interpret the results.

You Have Obtained a Sub-Sample of 1744 Individuals from the Current