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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:
i am new to stata and i am trying to figure out how to calculate expected growth of sales tax revenue as well as average growth rate of sales tax revenue in stata. I have a dataset
Create the Venn diagram: A - you work for an insurance company. 80% of your company's staff is sales force and 70% of your company's sales is force is male. in your company
Your organization purchases bottles of a popular commercial solvent for resale. Each bottle is labeled as containing 32 fluid ounces of the solvent. Your cont
Do people of different age groups differ in their response to e-mail messages? A survey by the Cent of the Digital Future of the University of Southern California reported that 70.
Henry Kaiser suggested a rule for selecting a number of components m less than the number needed for perfect reconstruction: set m equal to the number of eigenvalues greater than I
The following table shows the results of fitting a linear regression model of starting annual salaries on a constant, GPA (4 point scale), and a variable (Metrics =1) indicating wh
what does it mean by moving average?
#quesgraphical representation of data
Explanation of standard deviation and variance Describe the importance of standard deviation and variance, what they calculate and why they are required. Importance of char
The box plot displays the diversity of data for the income; the data ranges from 20 being the minimum value and 1110 being the maximum value. The box plot is positively skewed at 4
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