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Assignment - One of the variables in Wage Knowledge of the...

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ACF(FINN321)/LUMS- Assignment 1 3/3/2012 Please find attached the data i.e., WAGE.dta. You are required to submit both the Microsoft word file (that includes the text, important tables and graphs and model) as well as the log file. Use this data to develop and answer the following questions: 1. Develop a Null hypothesis. Briefly explain it. 2. Analyze the data along with pre-diagnostic tests and interpret it. 3. Construct the model and fit the data. Discuss the results. 4. Analyze the residuals. 5. Check the collinearity and discuss the results. 6. If required, consider restricted model. 7. Draw Conclusions. 8. Define the title of the analysis. Please do not exceed 5 pages in Microsoft doc file. You are required to mention only the important results and interpretation thereof. (please resize/crop the figures to fit in the given pages)
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Unformatted text preview: One of the variables in Wage Knowledge of the World Work score is explained as follows: One assessment, an abbreviated version of the "Knowledge of the World of Work" scale, was directly administered to the young men and women of the NLSY79 in 1979. This set of questions (R00260.-R00268.) asks respondents to pick one of three statements that best describes the duties of each of 10 commonly held jobs. A total score can be calculated by awarding one point for each correct answer (Kohen and Breinich, 1975; Parnes and Kohen, 1975; Parnes, et al., 1970). This question has an age restriction in that all respondents were asked questions concerning their thoughts on certain kinds of jobs that people actually do. Respondents who were 14-15 years old were skipped out at Q.2....
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