Interpreting a regression coefficient

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In a model of monthly expenditure (RWF) the coefficient on years_of_education is 8,500, controlling for age and district. What does it mean?

Each year of education causes spending to rise by 8,500 RWF.Holding age and district constant, each additional year of education is associated with 8,500 RWF higher expected monthly expenditure.Education explains 8,500 of the variance.People with education spend 8,500 RWF in total.

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Interpreting a regression coefficient

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Interpreting a regression coefficient

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