Assignment 3 Answers

Assignment 3 Answers - ECON 425 1(1 3,200 2,800 2,400 2,000...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1 ECON 425 Key for ASSIGNMENT 3 S.C. AHN 1. (1) 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 8 10 12 14 16 18 20 EDUC WAGE Positively correlated. (2) 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 8 10 12 14 16 18 20 EDUC LWAGE Positively corelated. (3) Sample: 1 935 EDUC WAGE LWAGE Mean 13.46845 957.9455 6.779004 Median 12.00000 905.0000 6.807935 Maximum 18.00000 3078.000 8.032035 Minimum 9.000000 115.0000 4.744932 Std. Dev. 2.196654 404.3608 0.421144 Skewness 0.547796 1.199259 -0.270714 Kurtosis 2.262651 5.696661 3.512944 Observations 935 935 935
Background image of page 1

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

View Full DocumentRight Arrow Icon
2 (4) EDUC WAGE LWAGE EDUC 1.000000 0.327109 0.312117 WAGE 0.327109 1.000000 0.953141 LWAGE 0.312117 0.953141 1.000000 Wage is more highly correlated with EDUC than LWAGE is. 2. (1) Dependent Variable: WAGE Included observations: 935 White Heteroskedasticity-Consistent Standard Errors & Covariance Variable Coefficient Std. Error t-Statistic Prob. C -599.1830 121.5653 -4.928898 0.0000 EDUC 58.76315 7.195836 8.166271 0.0000 EXPER 15.85890 3.056836 5.188011 0.0000 IQ 4.404660 0.909757 4.841578 0.0000 MARRIED 185.3429 35.36224 5.241266 0.0000 SOUTH -85.99957 26.45169 -3.251194 0.0012 R-squared 0.190916 Mean dependent var 957.9455 Adjusted R-squared 0.186561 S.D. dependent var 404.3608 S.E. of regression 364.6965 Akaike info criterion 14.64240 Sum squared resid 1.24E+08 Schwarz criterion 14.67347 Log likelihood -6839.324 F-statistic 43.84229 Durbin-Watson stat 1.833791 Prob(F-statistic) 0.000000 One more year of education increases monthly earnings by $58.76
Background image of page 2
3 (2) 58.76 1.96 7.20 72.87; 58.76 1.96 7.20 44.65.
Background image of page 3

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

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

Assignment 3 Answers - ECON 425 1(1 3,200 2,800 2,400 2,000...

This preview shows document pages 1 - 4. Sign up to view the full document.

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