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I'm at a total loss for how to to interpret this regression... http://i54.tinypic.com/9jf2bo.jpg Ln(dadprestige): is simply elasticity of x with y, so 1% change in x leads to a 0.15% change in y (although I found that this doesn't hold true if you say jump from a dadprestige of 10-20, i.e. a 100% ch...

Thanks startz... I was thinking what about a situation where my variable "Divert" is now a dummy? If I set the null as B1-Divert then this is not true unless the person is considered under part of the group "Divert". How would I account for this if I want to test whether B1 is re...

Here's why I don't really think testing for Beta1=1 is good... If the true population regression is given by Y = β0 + .5*Wealth .5*Divert and I arbitrarily set Wealth coefficient =1 then Y - Wealth = β0 + h .5*Divert but this is not true so what if, when constructing my restricted and unrestricted m...

EDIT: Oh I forgot to mention that "Wealth" is also out of 100 so it can't be more than 1 and it can't = 1 unless everything else is 0. (since if it =1 it is responsible for all the movement in Y which is also out of 100). That's what I'm not sure about. I know that there is a good chance &...

I have 3 variables in an oversimplified model. Wealth, Divert, Race. So that Y = a function of Beta1*(Wealth) + Beta2*(Divert) + Beta3*(Race). My Y variable ranges from 0-100. I'm trying to test whether Wealth is 100% responsible AND that race does not matter for the variation in Y, after taking int...