Employed Ohioans Salary and Wage Income by Educational Attainment
College $79745.22886 $10.77726446
Some College $40653.50938 $10.2236993
High School $31210.34537 $10.10143302
Drop Out $22609.73451 $9.651263388
Regression Analysis
LNWAGE = b0 + b1AGE + b2AGE2 + b3SCHOOLING + b4FEMALE
=6.7909+0.0869*(44.706)-0.00087*(2120.135)+0.12249*(14.20869)-0.48075*(1)=10.09100639
=6.7909+0.0869*(44.706)-0.00087*(2120.135)+0.12249*(14.20869)-0.48075*(0)=10.57175639
Question:
Consider your analyses from 3.1 and 3.2 regarding the value of human capital, both education (as measured by schooling) and experience (as proxied by age). Interpret your regression results and tables. Did you find what you expected to find? Discuss your findings and any weaknesses of these analyses.