The median starting salary for new law school graduates is determined by

log(salary) = B0 + B1 LSAT + B2 GPA + B3 log(libvol) + b4 log(cost) + B5 rank + u,

where LSAT is the median LSAT score for the graduating class, GPA is the median college. GPA for the class, libvol is the number of volumes in the law school library, cost is the annual cost of attending law school, and rank is a law school ranking (with rank = 1 being the best).

i. Explain why we expect b5 < 0.
ii. What signs do you expect for the other slope parameters? Justify your answers.
iii. Using the data in LAWSCH85.RAW, the estimated equation is log(salary ) = 8.34 + .0047 * LSAT + .248 GPA + .095 log(libvol) + .038 log(cost) - .0033 rank n = 136, R^2 = .842

What is the predicted ceteris paribus difference in salary for schools with a median GPA different by one point? (Report your answer as a percentage.)

iv. Interpret the coefficient on the variable log(libvol).
v. Would you say it is better to attend a higher ranked law school? How much is a difference in ranking of 20 worth in terms of predicted starting salary?.

Answers

Answer 1

Step-by-step explanation:

1) we would have the expectation that b₅ < 0 because b₅ shows how salary responds to law school ranking. As the rank of law school increases then median starting salary for new law school graduates declines. there is an inverse relation between salary and rank, Coefficient of rank, b5 will be negative since it is less than 0

ii) B₁ is going to be positive because as median LSAT score for the graduating class goes up, so does the salary of graduates. we have B1 >0

B₂ will be positive as college median GPA rises, so does graduate salary.

B₃ will be positive because if the more volumes of book in library, the greater possibility of getting higher salary, so B₃ >0.

B₄ >0 as if annual cost is high , then there would be indictaes more facilities of learning for students, leading to more chances of high salaries , hence B4 >0.

B5<0 this has been explained in 1.

iii) predicted ceteris paribus difference in salary for schools with a median GPA different by one point

= coefficient of GPA

=0.248

= this 24.8% in percentages B₂ tells us that when other factors are held constant,increasing median gpa by 1 would cause 24.8 percent increase in salary predicted.

iv)holding other variable factors constant, increasing the volume in the law library would bring about predicted salary increase by 0.095%

v) due to the inverse relationship between rank of law school and salary, it is better to attend a law school with lower rank than that with higher rank

difference in ranking of 20 = 20*(-0.0033)

= -0.066  x 100

= -6.6%

if rank is lower by 20 units , then we will have salary to be 6.6% higher


Related Questions

The Powerball lottery jackpot has a winning probability of 1/189,000,000. If you only consider the options of winning the jackpot ($100,000,000) or losing, what the is the mean value of a ticket that costs $2 to buy? At what point does the mean value of a ticket become positive?

Answers

Answer:

In this case, we can write the mean value as:

MV = ∑pₙxₙ - $2

Where pₙ is the probability of event xₙ

in this case we consider only two events:

x₁ = winning $100,000,000, p₁ = 1/189,000,000

x₂ = not winning (or winning $0.0), p₂ = 1 - p₁.

Then the mean value of the ticket is:

MV = $100,000,000*1/189,000,000 + 0*(1 - 1/189,000,000) - $2 = $0.53 - $2

MV = -$1.47

b) At what point the mean value becomes positive?

Well, if the ticket costs less than $0.53, the value would become positive.

if we also consider other possible prices, we will have other positive components in the sum above, then the mean value may become positive.

Now, you may notices that it does not matter if you buy N tickets, the mean value will always be negative becuase:

MV = N*$0.56 - N*$2 = N*-$1.47

This is because yes, as more tickets you buy, the more probabilities of winning the prize you have, but if you buy N tickets, you need to pay N times $2, so the mean value actually decreases.

Miles per day if you walk 6 2/3 miles in 3 days

Answers

Answer:

2.22 miles

Step-by-step explanation:

Answer:

6 2/3 divided by 3, and or multiplied by .33333=11/5 or 20/9 which is 2.2 or 2.22222, so your answer would be 2.2mi rounding it

The Palm Beach High Swimming Team is holding a car wash to raise money
for the team's banquet. All of the supplies for the car wash were donated by
parents of the team members. The graph below represents the situation.
SWIM TEAM CAR WASH
How much did the swim team charge for each car that it washed?
How much money did the swim team have in its account before the car wash?
If the team wants to earn $300, how many cars do they need to wash?

Answers

Answer:

Step-by-step explanation:

From the graph attached,

Relation between the amount of money raised and number of car washed is represented by a straight line.

Let the equation of the line is,

y = mx + b

where m = slope of the line = charges for each car wash

b = y-intercept = Initial amount the team have before the car wash.

Slope of the line will define the charges of car wash for each car.

Since, slope of the line passing through [tex](x_1,y_1)[/tex] and [tex](x_2,y_2)[/tex] is,

m = [tex]\frac{y_2-y_1}{x_2-x_1}[/tex]

Therefore, slope of the line passing through (0, 100) and (10, 150) will be,

m = [tex]\frac{150-100}{10-0}[/tex]

m = 5

Therefore, charges of each car wash will be = $5

y-intercept of the line 'b' = 100

Equation of the line will be,

y = 5x + 100

If team wants to earn $300,

300 = 5x + 100

5x = 200

x = 40

Therefore, 40 cars will be needed to wash by the swim team to earn $300.

1) The amount of money the swim team charged for each car that it washed is; $5 per car

2) The amount of money that the swim team had in its account before the car wash is; $100

3) If the team wants to earn $300, then number of cars they need to wash is; 40 cars

We know that formula for slope between two points is;

m = (y₂ - y₁)/(x₂ - x₁)

Let us take 2 coordinates from the given graph which are;

(10, 150) and (30, 250)

Thus;

m = (250 - 150)/(30 - 10)

m = 100/20

m = 5

Now, the equation of a line in slope intercept form is;

y = mx + c

where;

m is slope

c is y-intercept

From our graph, the y-intercept is 100. Thus, equation of the line of the graph is;

y = 5x + 100

A) From our equation y = 5x + 100, we can say that number of cars are x and as such amount charged per car is $5 per car.

B) The amount of money the swim team had before washing cars is when the value of x is 0. Thus;

y = 5(0) + 100

y = $100

C) The team wants to earn $300 and so we will plug 300 for y into y = 5x + 100 to get;

300 = 5x + 100

5x = 300 - 100

5x = 200

x = 200/5

x = 40 cars.

Read more at; https://brainly.com/question/16964983

Round 3,389
to the
nearest 100

Answers

Answer:

3400, If it's a decimal version then, 3.39

Step-by-step explanation:

3,389

The 8 is after the 3/the hundreds place. So you round the 8 because the 8 is greater then 5 and then you get 3,400. Decimal version: 3.34, the hundreds place in the decimal is the second digit to the right of the period. 3.389 = 3.34 9 is greater then 5. Your welcome :)

Tiyanna received 90 votes for class sweetheart. The amount of votes she received were 30 more than 4 times the amount that Dominique . Write and equation that demonstrates the relationship between the amounts Tiyanna and Dominique received.

Answers

Answer:

30x4

Step-by-step explanation

the answer is 120

Arlo bought a salad for $8 and 3 hamburgers. His total was
$29. How much did each burger cost?

Answers

Answer:

Each hamburger cost 7 dollars.

7 dollars :)
8 + 3x = 29
x = cost of burger
move the eight to the other side by subtracting it
3x = 21
divide by 3 to leave the x by itself
x = 7

g(x)=4x-7
g(-9)
I need to evaluate the function

Answers

Answer:

-43

Step-by-step explanation:

just plug in -9 for x and solve

g(-9)=4(-9)-7

=-43

Question 3
1 pts
The three angles of a triangle add up to 180°. If two angles are 57and 8what is the measure of the third angle?
39
96
141°
123

Answers

Answer:

39

Step-by-step explanation:

assuming the angles are 57 & 84

141 + 57 > 180

123 + 57 = 180 (no room for an 8)

96 + 57 = 153

180 - 153 = 27 (an 8 doesn't work for this answer)

57 + 39 = 96

180 - 96 = 84 ( we have a winner!)

h-1=5h+3h-8 i need help with this ASAP

Answers

Answer:

1 = h

Step-by-step explanation:

h-1=5h+3h-8

Combine like terms

h-1 = 8h-8

Subtract h from each side

h-1-h = 8h-8-h

-1 = 7h-8

Add 8 to each ide

-1+8 = 7h

7 =7h

Divide by 7

7/7 =7h/7

1 = h

rafael counted a total of 40 white and yellow cars. there are 9 times as many white cars as yellow cars. how many white cars did rafael count.

Answers

Answer:

360

Step-by-step explanation:

40 times 9 = 360

there are 360 yellow cars

or we can do it like this

360 divided by 9 = 40

or 360 divided by 40 = 9

pls mark me brailest for real  :,,(

Answer:

360

Step-by-step explanation:

9 x 40 = 360

If you divide 360 by 9 it will give you 40,

or if you divide 360 by 40 it will give you 9.

Is 3.777777... a rational number?

Answers

Answer:

3.777777777.... is a rational number

Step-by-step explanation:

3.777777777777777.............

Try this trick: for all (something)/9 is its repeat. Example: 7/9 = 0.77777....

so 3.777777.... is 3 7/9

So technically it is a rational number

if you toss a die (1), what is the probability of getting the number 5 NOT coming up?​

Answers

Answer: .833333

Step-by-step explanation:

5/6

You could get a 1, 2, 3, 4, 6

So 5 in total over 6 options

5/6 in my thoughts should be the probability of NOT getting the number 5 when tossing a die

9. The
divides a segment into two
segments.
segment, additional
midpoint, congruent
ray, equal
line, broken

Answers

Answer:

it would be the midpoint

solve for x 3(x - 8)= 29.7

Answers

X= 17.9

Explanation:
3(x-8)=29.7 Given
3x-24=29.7 Distribute
3x=53.7 Add positive 24 on both sides
X= 17.9 Divide by 3

Order these numbers from least to greatest.
9.7082, 9.8, 7.938, 9.78

Answers

Answer:

Step-by-step explanation:

7.938, 9.7082, 9.78, 9.8

Divide X^2-14x+45 by x-9

Answers

Answer:

x + 5

Step-by-step explanation:

Answer: [tex]$x-5$[/tex]

Step-by-step explanation:

Factoring [tex]$x^2-14x+45$ gives us $(x-9)(x-5)$. Cancelling we get our desired answer, $\boxed{x-5}$.[/tex]

The Sun has a greater influence on Earth's tides than the Moon.


True
False

Answers

Answer:

false.

look at the image

hope this helps

Answer: False

Step-by-step explanation: The moon controls earths oceans tides. The sun only controls about 44% of the tides whilst the moon controls the other 56%. Simply just gravitational pull, the moon is closer to earth than the sun

Using the coordinate system, translate the point (-3, -5) using the rule, x->+2 and y->+2, then using the answer, describe the movement vertically and horizontally on the coordinate system.​

Answers

Answer:

Step-by-step explanation:

Translated point (-1,-3). The point moved to the right 2 (horizontal) and up 2 (vertical).

The coordinate of translated point would be (-1,-3) and its movement is vertically upside and horizontally right side of the coordinate system.​

What is a transformation?

A point is transformed when it is moved from where it was originally to a new location. Translation, rotation, reflection, and dilation are examples of different transformations.

Vertical shifting of a graph is done by adding any arbitrary constant to the function in shifting.

For example, If shift up by 1 unit,  add 1 to the function

If shift down by 4 units, subtract 4 from the function

The original coordinate is (-3, -5).

Translate the point (-3, -5) using the rule, x→+2, and y→+2,

The coordinate of translated point would be (-3+2, -5+2) = (-1, -3).

Here the movement is vertically upside and horizontally right side of the coordinate system.​

To learn more about the transformations click here :

https://brainly.com/question/28029674

#SPJ2

What is b/2+c=d equal to, please give me the full steps.

Answers

Answer:

ou can deduce what should  (a+b+c)2  be using same reasoning..

(a+b+c)2=a2+ab+ac+ab+b2+bc+ac+bc+c2  

=a2+b2+c2+2ab+2bc+2ca  

Now the question is what is  (a+b+c+d)2=?  

Do I need to tell you ? Or you can figure it out ?

(a+b+c+d)2

Step-by-step explanation:

oops i put it all in the answer but heres your answer

show your work
21 = −7n

Answers

Answer:

It would equal -3

Step-by-step explanation:

you are trying to find how to get a positive 21 so you would have to divide 21 by -7

21 ÷ -7 = -3

to make sure it's correct muiltply it

-7 × -3 = 21

So therefore n = -3

Galium is a metal that can melt in your hand at 302.93 k. what is the temperature in celcius ?

Answers

Answer:

29.93 ℃

Step-by-step explanation:

Temperature (K) = ℃ + 273

302.93 K = ℃ + 273

302.93 - 273 = 29.93℃

At 29.78 °C gallium can melt our hand.

How to convert °C to °F ?

To convert temperatures in degrees Celsius to Fahrenheit, multiply by 9/5 and then add 32.From here we can also convert degree Fahrenheit to degree celsius. The S.I unit of temperature is Kelvin.

According to the given question

Gallium is a metal that can melt in your hand at 302.93 k. what is the temperature in celsius.

The conversion formula from kelvin to celsius  is

°C = K - 273.15

Given it can melt our hand at 302.93 k

∴ °C = (302.93 - 273.15)k

  °C = 29.78.

Leran more about temperature conversation here :

https://brainly.com/question/18800757

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What is the slope of the line that passes through the points(2,−3) and (2, 13) ?

Answers

Answer:

The slope would be undefined (16/0)

Step-by-step explanation:

(2, -3) and (2, 13)

13- -3 = 16

2-2 = 0

16 divided by 0 is undefined on a calculator so, undefined is the answer unless you weren't asked to simplify the answer then it would be 16/0.

Can y’all help me with this yo because it’s so hard

Answers

Answer:

The answer would be B

Step-by-step explanation:

the correct answer is D

a
Negative
b
Zero
c
Positive
d
Undefined

Answers

I believe that the answer is C. Positive

What is the next three terms for 7, 10, 13

Answers

Answer:

16, 19, 22

Step-by-step explanation:

you add 3 each time to get the next number in the sequence

Maria fills up a tank of water at 10 gallons per hour. How many gallons of water does she fill up the tank in 15 minutes?

Answers

Answer:

2.5 gallons in 15 minutes

Step-by-step explanation:

10/60=1/6 gallon per minute

1/6*15=2.5

I need help with this question‼️

Answers

Answer:

123

Step-by-step explanation:

Angle 1 and angle 3 are vertical angles, which are congruent.

So, if angle 1 is 123, then angle 3 is also 123.

According to the report by the​ government-lending institution, college students who have credit cards have an average credit card balance of ​$1,076. A random sample of 40 college students was​ selected, and their average credit card debt was found to be ​$1,436. Assume the standard deviation for student credit card debt is ​$276. Using α=0.10​ to complete parts a and b below.

a. Does this sample provide enough evidence to challenge the findings by Sallie Mae?
b. Determine the p-value for this test.

Answers

Answer:

Kindly check explanation

Step-by-step explanation:

Given the following :

Population mean (μ) = 1076

Sample mean (m) = 1436

Number of samples (n) = 40

Population standard deviation (sd) = 276

α=0.10

Null: μ = 1076

Alternative : μ > 1076

This is a right tailed test;

Reject null;

If z > z0.10

Z0.10 = 1.28 ( right tailed)

Test statistic (z) :

(m - μ) / (σ / √n)

(1436 - 1076) / (276 / √40)

360 / 43.639431

= 8.249

Since

8.249 > 1.28

We reject the null.

B) using the p value calculator from Zscore and alpha level

Zscore = 8.249 ; α=0.10, one tailed

P value < 0.00001

Which shoes that result is significant at 0.10

A farmer has found that in a typical year they earn $75000 from their harvest. In a wet year they earn $48000, and in a drought they earn $26000. If the probability of a wet year is 0.30 and the probability of a drought is 0.20 find the mean amount this farmer will make from their harvest over a long period of years. If the farmer has the option of buying insurance for $2000 a year that pays $20000 in a year of a drought, does it make sense financially to buy the insurance? Justify.

Answers

Answer:

1. The mean amount that this farmer will earn over a long period of years is:

$57,100

2. It makes sense financially for the farmer to buy the insurance.   In a year of drought, he earns only $5,200.  If he spends on insurance premium, his earnings are reduced by $2,000 to $3,200 but the insurance reimbursement will take his overall net earnings to $23,200 ($3,200 + $20,000).  Incurring the insurance expense is highly justified.

Step-by-step explanation:

Earnings in a typical year = $75,000

Earnings in a wet year = $48,000

Earnings in a drought = $26,000

Pro

                         Typical            Wet           Drought

Earnings          $75,000       $48,000      $26,000

Probability        0.50              0.30             0.20

Expected

 earnings       $37,500       $14,400        $5,200

Mean earnings = $57,100

Insurance expense                                 $2,000

Net earnings after insurance expense $3,200

Insurance Reimbursement                  $20,000

Net earnings                                         $23,200

Which statements describe the functions? Check all

Answers

Answer: A,b,e

A:Each successive output is the previous output divided by 3.

B:As the domain values increase, the range values decrease.

E:The range of the function is all real numbers greater than 0.

These are the answers on e2020. Hope this helps

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