{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Whistler - Sample Midterm

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

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

View Full Document Right Arrow Icon
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.
Image of page 1

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

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    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.

    Student Picture

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

  • Left Quote Icon

    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.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    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.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern