{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Whistler - Sample Midterm

# Whistler - Sample Midterm - ECONOMICS 326 Sample Mid-term...

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

ECONOMICS 326 Sample Mid-term Exam NO Calculator – For questions that ask for a numerical answer, you do not need to give a final numerical answer. But numerical calculations must be clearly shown. Part I A labour economist has a data set with observations on hourly wage rates (in \$) and years of education for 88 workers. The average wage is \$8.25 per hour. A regression model is: e educ wage 2 + β + β = 1 . Stata e stimation results are below. . regress wage educ Source | SS df MS Number of obs = 88 -------------+------------------------------ F( 1, 86) = 6.65 Model | 140.330181 1 140.330181 Prob > F = 0.0116 Residual | 1814.45516 86 21.0983158 R-squared = 0.0718 -------------+------------------------------ Adj R-squared = 0.0610 Total | 1954.78534 87 22.468797 Root MSE = 4.5933 ------------------------------------------------------------------------------ wage | Coef. Std. Err. t P>|t| [95% Conf. Interval] -------------+---------------------------------------------------------------- educ | .5901963 .2288468 2.58 0.012 .1352639 1.045129 _cons | .6533791 2.989377 0.22 0.828 -5.289305 6.596063 ------------------------------------------------------------------------------ . estat vce Covariance matrix of coefficients of regress model e(V) | educ _cons -------------+------------------------ educ | .05237086 _cons | -.67486997 8.9363734 Inspect the results and answer the questions. Numerical results must be clearly stated in answers where appropriate. Carefully explain all answers . (1) [5 points] Find the sample variance of the education variable.

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern