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# lecture_9 - ECON 103 Lecture 9 Midterm practice Maria...

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ECON 103, Lecture 9: Midterm practice Maria Casanova February 9th (version 0) Maria Casanova Lecture 9

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Instructions: The exam will take place on Tuesday February 16th during class time (9:30 to 10:45) Calculators WILL NOT be allowed Maria Casanova Lecture 9
Exercise 1 You have a sample of N = 300 manual workers for whom you can observe: W =wage S = (years of) Education E = (years of) Experience a) You begin by estimating the following model using Stata: ln W i = β 0 + β 1 S i + ε i Can you reject the hypothesis that education has no effect on wages? Maria Casanova Lecture 9

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Exercise 1 Figure: Stata output . reg lnwage educ Source | SS df MS Number of obs = 300 -------------+------------------------------ F( 1, 298) = 6.12 Model | .639970473 1 .639970473 Prob > F = 0.0139 Residual | 31.1405619 298 .10449853 R-squared = 0.0201 -------------+------------------------------ Adj R-squared = 0.0168 Total | 31.7805324 299 .106289406 Root MSE = .32326 ------------------------------------------------------------------------------ lnwage | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------+---------------------------------------------------------------- educ | .0317965 .0128486 _cons | .7708761 .1999826 ------------------------------------------------------------------------------ Maria Casanova Lecture 9
Exercise 1 You know the value and standard error of the OLS estimates: ˆ β 0 = 0 . 770 s . e . ( ˆ β 0 ) = 0 . 199 ˆ β 1 = 0 . 031 s . e . ( ˆ β 1 ) = 0 . 012 You want to test H 0 : β 1 = 0 against H 1 : β 1 6 = 0

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lecture_9 - ECON 103 Lecture 9 Midterm practice Maria...

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