Consider the following least squares specification between test scores
(Y)
and income:
hat(Y)=607.8+5.32ln
(Income). According to this equation, a
1%
increase income is associated with an increase in test scores of 5.32 points 607.8 points None are correct. 0.0532 points 53.2 points

Question

Consider the following least squares specification between test scores

(Y)

and income:

hat(Y)=607.8+5.32ln

(Income). According to this equation, a

1%

increase income is associated with an increase in test scores of 5.32 points 607.8 points None are correct. 0.0532 points 53.2 points

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