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Model of labour force participation

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The department of Employment and training estimated the following model of labour force participation in 2001 using census data on 49 local government areas in Queensland. The median annual earnings of full-time workers in thousands of dollars, the percentage of the workforce over 35 years of age who completed year 12 and the unemployment rate were used as explanatory variables in the model.

LFP = 47.55 + 0.713*YMED + 0.326*Y12 - 1.414*UNEMP

R-Squared = 65%

Calculate the adjusted R-Squared for the model, expressing your answer as a percentage correct to two decimal places.

Reference no: EM131227004

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