代做ECON7300 Statistical Project: Part IIIa Semester 1, 2024代做Prolog

ECON7300

Statistical Project: Part IIIa

Semester 1, 2024

Instructions

•   Questions in this file should be answered by students whose last names fall within the range X-Z.

•   Use the Excel file Part3a_Dataset3 to answer the questions.

•   A 100% penalty will apply if your answers are not based on the questions and datasets assigned to your lastname.

Multiple Regression Analysis

To research the determinants of expected pension benefits, a human resource consultant randomly selects 616 employees and collects data on their pension value, work experience and union membership status. The variables in the dataset (Part3a_Dataset3) are:

•    pension (Y, in US dollar value of employee pension)

•    exper (X1, in number of years of work experience)

•    union (X2, coded 1 if union member and 0 if not union member)

The dependent variable for your analysis is pension.

Answer the following questions using Part3a_Dataset3.

(a) Estimate a regression model using X1 and X2 to predict Y. Include the regression output and state the multiple linear regression equation.

(b) Interpret the meaning of the slope coefficient for X2.

(c) What are the estimated values of the intercept when X2 = 0 and X2 = 1, respectively?

(d) At the 5% level of significance, use attest to test whether the intercept differs for persons with and without union membership. Follow all the necessary steps.

(e) Estimate a regression model using X1, X2 and an interaction between X1 and X2 to predict Y. Include the regression output and state the multiple linear regression equation.

(f)  Interpret the meaning of the slope coefficient for the interaction term.

(g) At the 5% level of significance, use attest to test whether the slope coefficient for X1 differs for persons with and without union membership. Follow all the necessary steps.