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Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in 1976 U.S. dollars and let educ denote years of schooling. We obtain the following OLS regression line: wage = -0.54 + 0.54educ. How do you interpret the slope of this regression line? What is the expected difference in the hourly wage between a worker that finished four years of college and a worker with finished high school? What is the predicted wage for a person with one year of education? Does that make sense? If it is not, what is the name of this problem in econometrics? How do we deal with it?
Suppose you are interested in the effect of skipping classes on college GPA, and collect a sample of economic variables from 400 college students to analyze the problem. Included in your data are college GPA on a four-point scale (COLGPA), high school GPA on a four-point scale (HSGPA), achievement test score (ATS), and the average number of Economics 122B lectures missed per week (SKIP). Running a regression of the dependent variable COLGPA on the other explanatory variables including a constant (and homoskedastic errors) yields:
Show that the ISB in a bin containing the origin of the double exponen-tial density, f(x) = exp(-|x|)/2, is O(h 3 ); hence, the discontinuity in the derivative of f does not have a
Motion Picture Industry (95 Points) The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new motion pictures each year, and t
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Among the students doing a given course, there are four boys enrolled in the ordinary version of the course, six girls enrolled in the ordinary version of the course,and six boys e
how many types of ogive are there
Your company operates a machine shop, and, having heard you had experience in statistics and design of experiments, consulted you for your opinion on an experiment they want to run
Features of index numbers
I need to know if the exam will be guarantee to pull my grade up to a B or an A. I have a D right now so i need to get someone that is willing to put effort on completing it???
Canonical correlation analysis (CC) allows the investigation of the relationship between two ,sets of variables. For example, a sociologist may want to investigate the Relationship
Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
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