) You have collected 14,925 observations from the Current Population Survey. There are 6,285 females in the sample, and 8,640 males. The females report a mean of average hourly earnings of $16.50 with...
) You have collected 14,925 observations from the Current Population Survey. There are 6,285 females in the sample, and 8,640 males. The females report a mean of average hourly earnings of $16.50 with a standard deviation of $9.06. The males have an average of $20.09 and a standard deviation of $10.85. The overall mean average hourly earnings is $18.58.
a. Using the t-statistic for testing differences between two means (section 3.4 of your textbook), decide whether or not there is sufficient evidence to reject the null hypothesis that females and males have identical average hourly earnings.
b. You decide to run two regressions: first, you simply regress average hourly earnings on an intercept only. Next, you repeat this regression, but only for the 6,285 females in the sample. What will the regression coefficients be in each of the two regressions?
c. Finally you run a regression over the entire sample of average hourly earnings on an intercept and a binary variable DFemme, where this variable takes on a value of 1 if the individual is a female, and is 0 otherwise. What will be the value of the intercept? What will be the value of the coefficient of the binary variable?
d. What is the standard error on the slope coefficient? What is the t-statistic?
Homework Answers
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) You have collected 14,925 observations from the Current Population Survey. There are 6,285 females in the sample, and 8,640 males. The females report a mean of average hourly earnings of $16.50 with...
Utolbl 5 2) (15 points) You have obtainer male students (Student a binary variable (Female), which...
Utolbl 5 2) (15 points) You have obtainer male students (Student a binary variable (Female), which yields the following result: ints) You have obtained measurements of height in inches of 29 female and 81 dents (Studenth) at your university. A regression of the height on a constant and variable (Female), which takes a value of one for females and is zero otherwise, Studenth = 71.0 - 4.84xFemale, R2 = 0.40, SER = 2.0 (0.3) (0.57) (a) Calculate the average height...
4) You have obtained a sub-sample of 1744 individuals from the Current Population Survey (CPS) and...
4) You have obtained a sub-sample of 1744 individuals from the Current Population Survey (CPS) and are interested in the relationship between weekly earnings and age. The regression, using heteroskedasticity-robust standard errors, yielded the following results: EARN= 239.16 + 5.20×Age , R2 = 0.05, SER = 287.21., (20.24) (0.57) where Earn and Age are measured in dollars and years respectively. (a) Interpret the slope and intercept coefficients and the measure of fit. (b) The average age in this sample is...
Table 1: 2012 Current Population Survey Data Dependent Variable: Av Hourly Eaming 8.31 0.2 3.85 0.2...
Table 1: 2012 Current Population Survey Data Dependent Variable: Av Hourly Eaming 8.31 0.2 3.85 0.2 8.34 8.32 0.22 3.81 0.22 0.51 0.04 College (X) Female (X2) Age (X3) Northeast (x) Midwest (L.) South (Xs) Intercept 3.80 0.52 04 0.18 36 1.23 31 0.43 30 2.05 17.02 1.87 Forthis question, refer to the table of estimated regressions in Table 1, computed using data from the 2012 CPS. The dataset contains information on 7,440 full-time, full-year workers. The highest educational achievement...
Imagine that you regressed the earnings of individuals on a constant, a binary variable (“Male”) which...
Imagine that you regressed the earnings of individuals on a constant, a binary variable (“Male”) which takes on the value of 1 for males and is 0 otherwise, and another binary variable (“Female”) which takes on the value of 1 for female and is 0 otherwise. Because females typically earn less than males, you would expect: Group of answer choices autocorrelation or serial correlation to be a serious problem. the estimated coefficient for Male to have a positive sign, and...
Assume that you have a sample of n1=7?, with the sample mean X1=42?, and a sample...
Assume that you have a sample of n1=7?, with the sample mean X1=42?, and a sample standard deviation of S1=4,and you have an independent sample of n2=13 from another population with a sample mean of X2=33 and the sample standard deviation S2=6. a. What is the value of the? pooled-variance tSTAT test statistic for testing H0: ?1=?2?? A local college newsletter reported that the average American college student spends one hour? (60 minutes) on a social media website daily. But...
2. Suppose you are interested in the relationship between weekly wage earnings in dol lars) and...
2. Suppose you are interested in the relationship between weekly wage earnings in dol lars) and age (in years). You run a linear regression model where age is your dependent variable and earn is your independent variable. Answer the following questions about your regression results. earn = 239.16 5.20 × age (20.24) (0.57) Ip = 0.05, SER 287.21 (a) Interpret the coefficient for age. (b) Is the effect of age on earnings economically significant here? (Hint: think about how much...
In this exercise, you will investigate the relationship between a worker's age and earnings. (Generally, older...
In this exercise, you will investigate the relationship between a worker's age and earnings. (Generally, older workers have more job experience, leading to higher productivity and earnings.) The following table contains data for full-time, full-years workers, age 25-34, with a high school diploma or B.A./B.S. as their highest degree. Download the data from the table by clicking the download table icon 0 . A detailed description of the variables used in the data set is available here Use a statistical...
Refer to the table of estimated regressions below, computed using data for 1998 from the CPS,...
Refer to the table of estimated regressions below, computed using data for 1998 from the CPS, to answer the following question. The data set consists of information on 4000 full-time full-year workers. The highest educational achievement of each worker was either a high school diploma or a bachelor's degree. The worker's age ranged from 25 to 34 years. The data set also contained information on the region of the country where the person lived, marital status, and number of children....
Data were collected from a random sample of 220 home sales from a community. Let Price...
Data were collected from a random sample of 220 home sales from a community. Let Price denote the selling price (in $1000), BDR denote the number of bedrooms, Bath denote the number of bathrooms, Hsize denote the size of the house (in square feet), Lsize denote the lot size (in square feet), Age denote the age of the house (in years), and Poor denote a binary variable that is equal to 1 if the condition of the house is reported...
1. Which of the following conditions will lead to a smaller variance for the intercept estimator...
1. Which of the following conditions will lead to a smaller variance for the intercept estimator for your multiple regression model? (A) X values cluster far from the origin of the X axis (B) X values closely pack around the mean of X in your sample (C) Small sample sizes (D) High correlation among the explanatory variables (E) Small error variance in the population regression function 2. R-squared (A) measures the proportion of variability of the dependent variable that is...
Utolbl 5 2) (15 points) You have obtainer male students (Student a binary variable (Female), which yields the following result: ints) You have obtained measurements of height in inches of 29 female and 81 dents (Studenth) at your university. A regression of the height on a constant and variable (Female), which takes a value of one for females and is zero otherwise, Studenth = 71.0 - 4.84xFemale, R2 = 0.40, SER = 2.0 (0.3) (0.57) (a) Calculate the average height...
Table 1: 2012 Current Population Survey Data Dependent Variable: Av Hourly Eaming 8.31 0.2 3.85 0.2 8.34 8.32 0.22 3.81 0.22 0.51 0.04 College (X) Female (X2) Age (X3) Northeast (x) Midwest (L.) South (Xs) Intercept 3.80 0.52 04 0.18 36 1.23 31 0.43 30 2.05 17.02 1.87 Forthis question, refer to the table of estimated regressions in Table 1, computed using data from the 2012 CPS. The dataset contains information on 7,440 full-time, full-year workers. The highest educational achievement...
2. Suppose you are interested in the relationship between weekly wage earnings in dol lars) and age (in years). You run a linear regression model where age is your dependent variable and earn is your independent variable. Answer the following questions about your regression results. earn = 239.16 5.20 × age (20.24) (0.57) Ip = 0.05, SER 287.21 (a) Interpret the coefficient for age. (b) Is the effect of age on earnings economically significant here? (Hint: think about how much...
In this exercise, you will investigate the relationship between a worker's age and earnings. (Generally, older workers have more job experience, leading to higher productivity and earnings.) The following table contains data for full-time, full-years workers, age 25-34, with a high school diploma or B.A./B.S. as their highest degree. Download the data from the table by clicking the download table icon 0 . A detailed description of the variables used in the data set is available here Use a statistical...
Refer to the table of estimated regressions below, computed using data for 1998 from the CPS, to answer the following question. The data set consists of information on 4000 full-time full-year workers. The highest educational achievement of each worker was either a high school diploma or a bachelor's degree. The worker's age ranged from 25 to 34 years. The data set also contained information on the region of the country where the person lived, marital status, and number of children....
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