Econometrics statistics problems, sample average and sample standard deviation.

ifhss

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Feb 26, 2016
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Hello everyone, I am having major trouble with this homework.

We are given: wage^=10.6+1.2*school years. We are also given the R^2, SER, Sample average Y, Sxy.
(wage hat)

1)My trouble starts where we are given the sample average Y, and told to find sample average of X. I have no idea how to start.
2)The second troubling question gives us the Sample covariance and asks us to find the sample standard deviation of years of school.

I feel like we are not given enough information to figure this out but I also think it has to be enough or else this would be impossible and the professor would not have given these problems. I would really appreciate any help I can get, thank you!

Edit: sample size is 1,002
 
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I think I figured both of those questions out. Now my problem is what am I supposed to do when asked; "what is your conclusion regarding ____ on ____?" And how am i supposed to interpret the T-statistic and p-value? Any help is appreciated, thank you.
 
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