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4. This problem uses murder.dta which contains state-level data on murder rates in 1987, 1990 and
1993. It assumes a researcher is interested in whether the death penalty serves as a deterrent. Take a
close look at what variables are in the data set and what their means are before getting started.
a) [4 points] Estimate this model using a fixed-effects approach, adjusting the standard errors for
possible heteroskedasticity.
b) [6 points] Interpret the coefficient on exec, and comment on its statistical significance. Based on
these results, what would you conclude about the possible deterrent effects of the death penalty?

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