ECON382
Cuny City College
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Answers to HW4 CUNY Queens College ECON382|100% correct
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Use the data in WAGE for the following exercise.
Consider the standard wage equation
log(wage)=β0+β1 log(educ)+β2exper+β3tenure+u
1) The estimated equation is
log(wage) = 3.79 + 1.047 log(educ) + .0159 exper + .01337 tenure
(.25) (.090) (.00338) (.)
n = 935, R
2
= .1574
2)
The corresponding p-value=0.000 <5%. Reject the null hypothesis that β0=0.
β0 is significant at 5% significance level.
The corresponding p-value=0.000 <5%. Reject the null hypothesis that β1=0.
β1...
Exam (elaborations)
Answers to HW4 CUNY Queens College ECON382|100% correct
Last document update:
ago
Use the data in WAGE for the following exercise. Consider the standard wage equation log(wage)=β0+β1 log(educ)+β2exper+β3tenure+u 1) The estimated equation is log(wage) = 3.79 + 1.047 log(educ) + .0159 exper + .01337 tenure (.25) (.090) (.00338) (.) n = 935, R 2 = .1574 2) The corresponding p-value=0.000 <5%. Reject the null hypothesis that β0=0. β0 is significant at 5% significance level. The corresponding p-value=0.000 <5%. Reject the null hypothesis that β1=0. β1...
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