Empirical Exercise

Empirical Exercise - Question 6.2 A the result is Model 1...

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Question 6.2 A the result is Model 1: OLS, using observations 1-3796 Dependent variable: ed coefficient std. error t-ratio p-value -------------------------------------------------------- const 13.9559 0.0377241 369.9 0.0000 *** dist -0.0733727 0.0137498 -5.336 1.00e-07 *** Mean dependent var 13.82929 S.D. dependent var 1.813969 Sum squared resid 12394.36 S.E. of regression 1.807438 R-squared 0.007450 Adjusted R-squared 0.007188 F(1, 3794) 28.47582 P-value(F) 1.00e-07 Log-likelihood -7632.182 Akaike criterion 15268.36 Schwarz criterion 15280.85 Hannan-Quinn 15272.80 The estimated slope is -0.07337. Part B after adding the other variables the regression output is as follows Model 2: OLS, using observations 1-3796 Dependent variable: ed coefficient std. error t-ratio p-value --------------------------------------------------------- const 8.86137 0.249705 35.49 2.25e-238 *** dist -0.0308039 0.0123377 -2.497 0.0126 ** female 0.143378 0.0504535 2.842 0.0045 *** black 0.353808 0.0712345 4.967 7.11e-07 *** hispanic 0.402351 0.0742642 5.418 6.41e-08 *** bytest 0.0924474 0.00316741 29.19 4.37e-169 *** dadcoll 0.569915 0.0737182 7.731 1.36e-014 *** momcoll 0.379184 0.0815498 4.650 3.44e-06 *** ownhome 0.145642 0.0666409 2.185 0.0289 ** cue80 0.0244180 0.00960948 2.541 0.0111 ** stwmfg80 -0.0502044 0.0198013 -2.535 0.0113 ** incomehi 0.366595 0.0606792 6.042 1.67e-09 *** Mean dependent var 13.82929 S.D. dependent var 1.813969 Sum squared resid 8954.270 S.E. of regression 1.538295 R-squared 0.282935 Adjusted R-squared 0.280850 F(11, 3784) 135.7331 P-value(F) 1.9e-263 Log-likelihood -7015.121 Akaike criterion 14054.24 Schwarz criterion 14129.14 Hannan-Quinn 14080.86 The effect of distance now on ed is -0.0308.

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