gwern comments on Rationality Quotes September 2011 - Less Wrong

7 Post author: dvasya 02 September 2011 07:38AM

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Comment author: gwern 02 February 2016 12:39:13AM 2 points [-]

"IQ and Permanent Income: Sizing Up the “IQ Paradox”":

I used data from the NLSY79 which is an ongoing longitudinal study that follows the lives of a large sample of Americans born in 1957-64. Specifically, I used the nationally representative subsample comprising more than 6000 individuals...The unstandardized slope coefficient is 0.025 (95% CI: 0.023-0.027). Because the dependent variable is logarithmic, this coefficient, when multiplied by 100, can be (approximately) interpreted as the percent change in income in (unlogged) dollars associated with a 1 IQ point change.[Note] Therefore, one additional IQ point predicts a 2.5% boost in income. The standardized effect size, or correlation, is 0.36 and the R squared is 13%.