"Employees of American firms can contribute to a retirement plan through a 401.K account administered by their employer. A regression of the percentage of employees with an active 401.K account (prate) on the generosity of the employer's contribution (mrate), the amount the employer contributes for each $1 the employee contributes, produces the following results:
The sample size is 1,534 and the R-square statistic is .0747. What is the standardized value of the slope coefficient?"
The above is a question I am required to answer for an econometrics quiz. However I have no idea what the 'standardized value of the slope coefficient' means. How does one compute the standardized value?
also if the standardized value has to do with the z-score why is the r^2 important?