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Re: st: regression explanation


From   Ron�n Conroy <[email protected]>
To   [email protected]
Subject   Re: st: regression explanation
Date   Fri, 12 Jan 2007 14:35:59 +0000

On 12 Ean 2007, at 12:14, Michelle Liu wrote:

wage | Coef. Std. Err. t P>|t| [95% Conf. Interval]
------------- +----------------------------------------------------------------
educ | .3498179 .0578807 6.04 0.000 . 2361024 .4635334
exper | .1606065 .0377335 4.26 0.000 . 0864732 .2347398


"Holding other variables fixed, ceteris paribus, another year on education is associated with 0.3498 of average hourly earnings"
It depends on the currency in which wages are measured.

In this particular model, in two people have the same experience each additional year of education predicts a 0.34 euro difference in hourly earnings. Insert your own currency here.


i am not very sure about the 0.35 of average hourly earnings, if there is a better way to explain the 0.3498! thank you very much.
You are thinking of it as a ratio. In fact, it is expressed in the metric of your predicted variable.

And congratulations: you are the first person who has used the phrase 'ceribus paribus' - or indeed any Latin ablative absolute construction - on Statalist this century. Or maybe ever.

Major Kudos.

=========
Ron�n Conroy
Royal College of Surgeons in Ireland
[email protected]
+353 (0) 1 402 2431
+353 (0) 87 799 97 95
http://www.flickr.com/photos/ronanconroy




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