ECON2P91_ReviewQuestions_No3_Solutions_Fall2009

# ECON2P91_ReviewQuestions_No3_Solutions_Fall2009 - 1ECON2P91...

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Unformatted text preview: 1ECON2P91: Review Questions No. 3 1. Textbook Chapter 6 Page 212 q. 6.1 By equation (6.15) in the text, we know 2 2 1 1 (1 ). 1 n R R n k- = ---- Thus, that values of 2 R are 0.175, 0.189, and 0.193 for columns (1)–(3). 2. Textbook Chapter 6 Page 212 q. 6.2 (a) Workers with college degrees earn \$5.46/hour more, on average, than workers with only high school degrees. (b)Men earn \$2.64/hour more, on average, than women. 3. Textbook Chapter 6 Page 212 q. 6.3 (a) On average, a worker earns \$0.29/hour more for each year he ages. (b)Sally’s earnings prediction is 4 40 5 48 1 2 62 1 0 29 29 15 67 . + . × - . × + . × = . dollars per hour. Betsy’s earnings prediction is 4 40 5 48 1 2 62 1 0 29 34 17 12 . + . × - . × + . × = . dollars per hour. The difference is 1.45 4. Textbook Chapter 6 Page 212 q. 6.4 (a) Workers in the Northeast earn \$0.69 more per hour than workers in the West, on average, controlling for other variables in the regression. Workers in the Northeast earn \$0.60 more per controlling for other variables in the regression....
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ECON2P91_ReviewQuestions_No3_Solutions_Fall2009 - 1ECON2P91...

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