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Sample Final Exam Questions Section A:
6.You have estimated the following equation using OLS:ŷ = 33.75 + 1.2EDU+ 0.5EDUEXPER+ 1.1MALEwhere y is annual income in thousands,EDUis the year of education,EXPERis the year of workexperience, andMALEis the indicator variable that takes 1 if the employee is male and zerootherwise. How much less do female earn, on average??7.Which of the following is an ARDL (2,1) model?8.If there is heteroskedasticity, which of the following statements is correct?