LIR 832 Final Exam Fall 2003

LIR 832 Final Exam Fall 2003 - LIR 832: Final Examination:...

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LIR 832: Final Examination: Fall, 2003 This examination consists of two parts. The first, worth 60 points consists of five problems. Each problem is worth 15 points. You are to answer four of your choice. If you answer five, I will base your grade on the four with the lowest scores. The second part of the exam, worth 40 points, is an analytic essay. Instructions for the essay are found in the second section of this examination. The examination is scheduled to last two hours. Part I: Problems: Answer all questions as completely as you are able. Partial credit on problems is only possible if I can locate arithmetic errors in your calculations. Show your work!!! 1. Which of these equations is it possible to estimate using regression techniques? For those for which is it possible, explain what needs to be done to make it possible and write out the equation which will be estimated. For those for which it is not possible, explain why it is not possible a. Y i = # 0 + # 1 X 1i + $ 2 X 2i + , b. Y i = e X ii β ε 01 1 ++ c. Y i = 0 12 2 1 XXe i d. Y i = βε 0 + XX i
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e. Y i = ββ β ε 01 1 22 1 ++ + X X i ii
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2. We are interested in the effect of the presence of various benefit programs on employee views of their boss. We conduct an extensive survey of employees across a number of firms; employees were chosen for this survey using a two stage random procedure. The survey, which went to 4,500 employees had a 95% response rate. You estimate a regression equation in which the dependent variable is a seven point measure of job satisfaction and the explanatory variables include years of education, gender, whether the individual had employer sponsored health insurance, a pension plan through their current employer, and whether the employer threw a seasonal party. Specifically, the variables are: Job Satisfaction (JSAT) a seven point scale in which 1 (Scrooge looks good compared with this Bozo) to 7 (this boss is a kindly demi- god of employment) Years of Education: Number of years of schooling completed. The minimum value of this variable is 4, the maximum is 21, the mean is 14.5, the median is 12 and the standard deviation is 2. Female A dummy variable which takes on a value of 1 if the respondent is female, 0 otherwise Health Indicator variable, 1 = has employer provided health insurance, 0 = does not have. Pension Indicator variable, 1 = has employer provided pension plan, 0 = does not have. Party Indicator variable, 1 = has employer has annual seasonal party, 0 = does not have. Based on your review of the literature, you expect that all of the variables, with the exception of female, will be positively related to job satisfaction. Gender is generally unrelated to job satisfaction. You have estimated the equation: JSAT ED Female Health Pension Party Nr r s dard error in ii i i i i i =− + + + + + == = 812 14 1 11 5 15 2 3 76 04 85 15 67 4500 45 40 2 2 ..
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LIR 832 Final Exam Fall 2003 - LIR 832: Final Examination:...

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