ProblemSet1

# ProblemSet1 - ECON 3200 Introduction to Econometrics...

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ECON 3200 Introduction to Econometrics Problem set 1 (due date: February 5, 2009) Problem 1. (Wooldridge C1.1) Use the data in wage1.xls for this exercise. 1. Find the average education level in the sample What are the lowest and highest years of education? 2. Find the average hourly wage in the sample. Does it seem high or low? 3. The wage data are reported in 1976 dollars. Using the Economic Report of the President (2004 or later), obtain and report the Consumer Price Index (CPI) for the years 1976 and 2003. dollars. Now does the average hourly wage seem reasonable? 5. How many women are in the sample? How many men? Problem 2. (Wooldridge 2.3) The following table contains the ACT scores and the GPA (grade point average) for eight college students. GPA is based on a four-point scale and has been rounded to one digit after the decimal. Student

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ProblemSet1 - ECON 3200 Introduction to Econometrics...

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