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    Ordinary Least Squares regression

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    1) Suppose, now, that we wish to investigate whether hourly wages differ, on average, between union manufacturing jobs and non-union manufacturing jobs among adult workers in the U.S in 2008. We collect data on hourly wages and union membership among manufacturing workers older than 18. Letting Union = 1 if a worker is a union member and Union = 0 if not a union member, we estimate our model using Ordinary Least Squares regression and obtain the following results:

    HrWage = 18.906 + 2.273 Union , R2 = 0.0044
    (0.6405) (1.180)

    a) What is the average hourly wage for a non-union worker, explain?
    b) What is the average hourly wage for a union worker, explain?
    c) Construct a 95% confidence interval for the difference in hourly wage between union and non-union workers, explain.

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    https://brainmass.com/economics/econometric-models/ordinary-least-squares-regression-409484

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    1. Suppose, now, that we wish to investigate whether hourly wages differ, on average, between union manufacturing jobs and non-union manufacturing jobs among adult workers in the U.S in 2008. We collect data on hourly wages and union membership among manufacturing workers older than 18. Letting Union = 1 if a worker is a union member and Union = 0 if not a union member, we estimate our model using Ordinary Least Squares regression and obtain the following results:

    HrWage = 18.906 + 2.273 Union, R2 = ...

    Solution Summary

    Ordinary Least Squares regression is performed.

    $2.19