Conduct A Simple Linear Regression Analysis - Relationship Between Education And Wages - Report Writing - Economics Assignment Help

Assignent Task

Background
In your role as an economic analyst, you have been asked the following question: how much does education influence wages? The Excel data file (wages) contains 100 observations for each of the following variables:
Variable      Label
Wage         Earnings per hour
Educ          Years of education

Purpose 
In this section, the purpose of the report needs to be clearly and concisely stated.

Background 
In this section, write a brief overview of the association between education and earnings. Why would economists be interested in this particular issue?

Method
In this section, provide an overview of the empirical approach used to examine the
association between education and wages.

Results
In this section, you need to present and summarize the results from your statistical analysis. In particular, the result sections must:

• Provide a descriptive analysis of the two variables (e.g., mean, standard deviation, minimum and maximum).
• Develop a scatter diagram with education as the independent variable. What does the scatter diagram indicate about the relationship between the two variables?
• Estimate a regression equation that can be used to predict the wages given the level of education.

Discussion 
In this section, provide a brief overview of the results. What are the key strengths and limitations of this analysis? (e.g., data, method, etc.). How do the results from this analysis compare with other studies? (e.g., are the findings consistent?). Do these findings have clear policy implications?

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