Economics and Quantitative Analysis - Linear Regression Report - Economics Assignment Help

Assignment Task:

Task:

Instructions
Conduct a simple linear regression analysis to examine the relationship between ‘education’ (the independent variable) and ‘wages’ (the dependent variable). Using the Excel data file, prepare a 1500 word report using the following structure:
 

Purpose (5 marks)
In this section, the purpose of the report needs to be clearly and concisely stated.
 

Background (10 marks)
In this section, write a brief overview of the association between education and earnings.
Why would economists be interested in this particular issue?
 

Method (5 marks)
In this section, provide an overview of the empirical approach used to examine the association between education and wages.
 

Results (25 marks)
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). (3 marks)
? Develop a scatter diagram with education as the independent variable. What does the scatter diagram indicate about the relationship between the two variables? (4 marks)
? Estimate a regression equation that can be used to predict the wages given the level of education. (3 marks)
? State the estimated regression equation and interpret the meaning of the slope coefficient. (3 marks)
? Is there a statistically significant association between education and wages? What is your conclusion?(3 marks)

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