econ_302_HW3_Spring_2008

econ_302_HW3_Spring_2008 - Econ 302 20 points Homework 3...

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Econ 302 Homework 3 Spring 2008 20 points Due April 15 Joint work and discussion are encouraged. If you work in a team (no more than 3 students per team), submit 1 set of answers and identify the team members. Each member will get the same grade. . If your name is not on any assignment turned in, you cannot turn it in later. If your name is on two assignments, the lower grade will be given. LATE WORK WILL NOT BE ACCEPTED. Neatness counts. If I have trouble reading your assignment, points will be deducted for sloppiness. 1) Using data on 526 individuals in 1976, a study was conducted to determine which factors influence wages. The variables are y= natural logarithm of the hourly wage in dollars, educ=years of education, exper=years of work experience, tenure = years in the current job, and one dummy variable: female =1 if the individual is female and =0 if the individual is male The following regression equation was computed: ˆ y = .389– .227female+.082edu -.0056female*edu+.029exper-.00058
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econ_302_HW3_Spring_2008 - Econ 302 20 points Homework 3...

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