Data analysis: Basic regression analysis
May I please get assistance with the attached problem? I am failing to use Stata program to read the data. Please give me a detailed analysis of the data.
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Hi, this is an interesting problem to teach you about very basic regression analysis. I had to rename the file Wage2.dta to get it work with my stata, but once I did that, it was quite easy.
To go through the problems (output is shown in the attached file):
1. The regression of education on the log of wages is shown at the top. According to this model, education has a very positive and very strong significant effect (t ...
Solution Summary
An introductory tour through regression analysis, including the differentiation between exogenous and endogenous variables.
4 basic assumption of multiple regression analysis
The appropriate use of multiple regression depends on being able to make four basic assumptions about the data being used to develop the regression model:
that variables are normally distributed;
that the relationship between an independent variable and the dependent variable is linear
that the variance of errors is homoscedastic; and
that there is no multicollinearity among independent variables.
Pick two of these assumptions, and describe how you would check it for a dataset that you want to use to build a regression model.
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