ps4LaborEcon

ps4LaborEcon - Econ 4531 - Spring2011 Problem Set 4 Due...

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Econ 4531 - Spring2011 Problem Set 4 Due Thursday April 28th (during lecture) For question 1, please use the same data set from previous problem set (laborEcon.dta) . Feel free to resample the data set if you think it is appropriate. 1. (35 points total) Consider the earning function in the form of a linear regression equa- tion we discussed before: ln ( w )= α 0 + α 1 schooling + α 2 age + α 3 age 2 (1) where ln(w) is the natural log of earnings, α is the constant of the regression and α i , i =1 , 2 , 3a r eth epa ram e t e r sa s soc ia t edw i ths choo l ing ,ag eandag esqua r ed , respectively. Or in a more compact way, ln ( w )=
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This note was uploaded on 08/31/2011 for the course STAT 3101 taught by Professor Erick during the Spring '11 term at Minnesota.

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ps4LaborEcon - Econ 4531 - Spring2011 Problem Set 4 Due...

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