week3qs - to an increase of $80 in wages Perform the same...

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Week 3 questions Use the sample dataset (wage.dta) 1. Run a regression of wage on education (educ). 2. Interpret the slope and the intercept of the estimated regression line. 3. Is the slope coefficient statistically significant? 4. What is the predicted change in the wages of a person who opts for a master’s degree of 2 years? 5. Test at the 5% level of significance, whether an increase in one year of education leads
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Unformatted text preview: to an increase of $80 in wages. Perform the same test at the 10% level of significance. 6. Calculate the 99% confidence interval for the intercept. 7. Are the residuals and errors equal i.e is ˆ u i = u i ? 8. What is the R-squared? What can you conclude about the fit of the model? 1...
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