Unit 8 Homework - Unit 8 Homework by Ronke Adewale Problem...

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Unit 8 Homework by Ronke Adewale Problem C17.3 i. tab pension $ value of | employee | pension | Freq. Percent Cum. ------------+----------------------------------- 0 | 172 27.92 27.92 7.28 | 2 0.32 28.25 8.73 | 4 0.65 28.90 sum pension if pension >0 Variable | Obs Mean Std. Dev. Min Max -------------+--------------------------------------------------------- pension | 444 905.0439 550.3696 7.28 2880.27 **27.9 (172) of workers in the sample have pension of zero. Range of pension for workers with nonzero pension benefits is $7.28 to $2880.27. Tobit model is appropriate to avoid bias because of zero pension and large variation among nonzero pension** ii. tobit pension exper age tenure educ depends married white male, ll(7.28) Tobit regression Number of obs = 616 LR chi2(8) = 185.00 Prob > chi2 = 0.0000 Log likelihood = -3670.8879 Pseudo R2 = 0.0246 ------------------------------------------------------------------------------ pension | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------+---------------------------------------------------------------- exper | 5.19853 5.986974 0.87 0.386 -6.55913 16.95619 age | -4.630366 5.689706 -0.81 0.416 -15.80423 6.543498 tenure | 35.88943 4.546583 7.89 0.000 26.96052 44.81835 educ | 92.9062 10.84948 8.56 0.000 71.5992 114.2132 depends | 35.26132 21.83237 1.62 0.107 -7.614692 78.13733 married | 53.18201 71.45741 0.74 0.457 -87.1513 193.5153 white | 143.7224 101.6873 1.41 0.158 -55.97861 343.4235 male | 308.0137 69.62233 4.42 0.000 171.2843 444.7432 _cons | -1244.705 218.2398 -5.70 0.000 -1673.301 -816.1099 -------------+---------------------------------------------------------------- /sigma | 675.0325 24.0337 627.8333 722.2316 ------------------------------------------------------------------------------ 172 left-censored observations at pension <= 7.28 444 uncensored observations 0 right-censored observations . **Whites (0.158) do not have statistically significant higher pension, however, males (0.000) have stat significant higher pensions**
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Unit 8 Homework by Ronke Adewale iii. iv. tobit pension age exper tenure educ depends married white male union, ll(7.28) Tobit regression Number of obs = 616 LR chi2(9) = 143.55 Prob > chi2 = 0.0000 Log likelihood = -3691.6131 Pseudo R2 = 0.0191 ------------------------------------------------------------------------------ pension | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------+---------------------------------------------------------------- age | -2.996759 3.864868 -0.78 0.438 -10.5869 4.593377 exper | 1.366101 4.495065 0.30 0.761 -7.461668 10.19387 tenure | 27.60614 4.840378 5.70 0.000 18.10022 37.11206 educ | 18.45032 7.182085 2.57 0.010 4.345563 32.55507 depends | 20.47429 29.15448 0.70 0.483 -36.78161 77.73019 married | 59.87586 72.71676 0.82 0.411 -82.93112 202.6828 white | 246.6786 106.1532 2.32 0.020 38.20656 455.1507 male | 311.9598 70.17711 4.45 0.000 174.1404 449.7792 union | 323.7388 65.94846 4.91 0.000 194.2239 453.2536 _cons | -412.2327 173.2962 -2.38 0.018 -752.5656 -71.89976 -------------+---------------------------------------------------------------- /sigma | 706.4487 25.2002 656.9585 755.9388 ------------------------------------------------------------------------------ 172 left-censored observations at pension <= 7.28 444 uncensored observations
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