ECON 1150 Problem Set 1 Solutions

ECON 1150 Problem Set 1 Solutions - ECON 1150 Fall 2010...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1 ECON 1150 Fall 2010 Problem Set 1: Due 09/22/10 Please be sure that the pages are stapled together in the correct order. Please write neatly. Parts within each question receive equal weight. 1. Suppose we are interested in explaining a relationship between salary and experience. Let the work experience be measured in decades and the salary - in thousands of dollars. Indicate whether you think each of the two statements below are true or false (write TRUE or FALSE next to each of these statements). (a) Consider individual 1 and individual 2. Individual 2 has 10 years of experience more than individual 1. Then, the predicted salary for individual 2 will be thousands of dollars higher than that for individual 1. Solution. TRUE. (b) approximates the average salary for an average experience of individuals. Solution. FALSE. 2. Indicate whether you think each of the two statements below are true or false (write TRUE or FALSE next to each of these statements). The , , and have their usual meaning, we assume a correctly specified linear model (the standard situation), and
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/20/2011 for the course ECON 1150 taught by Professor Staff during the Fall '08 term at Pittsburgh.

Page1 / 2

ECON 1150 Problem Set 1 Solutions - ECON 1150 Fall 2010...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online