POL242Y5 Lecture Notes - Lecture 15: Confidence Interval, One Unit, Standard Error
Document Summary
Y=bx+ a income = experience +intercept b= the slope (rise over run) Y= b1x1 +b2x2 + a income = age +experience+ intercept. One unit increase in age means a three unit increase in income holding experience. One unit increase in experience means a three unit increase in income holding age. Income = age + education + gender + immigration status + intercept. Y+3x1 + 1x2 + 6x3 +12x4 +28 (average number of income if everything else is 0) Change in y for a one unit increase in x holding the other variables constant. For each year older, holding (education, gender, immigration status) constant, income increases by . A one unit increase (1-2, 3, 4) is not the same as a one category increase (0-0. 5) *** Interval level units all the same size. Ordinal level have more and less but units not the same size, some units have bigger effect then others (example, education high school degree and university degree)
