Children who were breastfed as infants have higher average IQs on average than children who were not. Breastfeeding advocates claim that this is due to the superior nutrition in breastmilk including brain building chemicals such as DHA. You have been hired to investigate this relationship more fully. Your employers are worried about the possibility of omitted variables biasing the results of the study. Name 3 possible omitted variables and explain how they might bias the results. Explain 2 empirical strategies you might use in your investigation.

Explain the concept of Testing Hypotheses on Two or More Coefficients?

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The following model studies human welfare using the General Social Survey in the US: happy = 0.014 + 0.209regattend + 0.103occattend + 0.027income + 0.009educ +0.003 female where happy is a dummy variable equal to one if a person is happy, and 0 otherwise: regattend is a dummy variable equal to one if a person regularly attends church, and 0 otherwise: occattend is a dummy variable equal to one if a person occasionally attends church, and 0 otherwise; income is family income in tens of thousands: educ is years of schooling: female = 1 if female. = 0 otherwise Interpret the impact of religion on happiness.

You and your research partner want to use Instrumental Variable analysis to write an econometrics paper and find causal estimates. Your partner argues that because the residuals and the instrument are uncorrelated, the exogeneity requirement is satisfied. What do you tell your research partner: a) You agree, the exogeneity requirement is satisfied by construction  b) You agree, the exogeneity requirement is satisfied by their demonstration c) You disagree, you would need the results of the White Test to make this conclusion d) You disagree, the exogeneity requirement cannot be tested as we do not observe the error terms e) You cannot make any conclusions with the current information

Suppose you work for North Dakota DNR Grand Forks office. DNR would like to know whether they should set aside some conservation land, previously slated to be logged, for a potential state park. You are helping do a travel-cost analysis to estimate the benefits of the set-aside. You collected data from 500 visitors who came to a state park in a neighboring state. You ran regression analysis and controlled for these visitors' age, income, education, employment status, and other important factors that might affect the number of visits. With all the information, you have developed the following relationship: (a) (b) Cost to Visit $20 $40 $80 # of Visits Per Person Per Year 8 6 2 Graph the demand curve for the number of visits as a function of the "price" -- the travel cost. Based on demographic information about the people living in the vicinity of the proposed park, you have estimated that 10,000 people will take an average of 4 visits per year. For the average person, calculate: (1) The…

1 Let kids denote the number of children ever born to a woman, and let educ denote years of education for the woman. A simple model relating fertility to years of education is kids = Bo + Bjeduc + u, where u is the unobserved error. (i) What kinds of factors are contained in u? Are these likely to be correlated with level of education? Will a simple regression analysis uncover the ceteris paribus effect of education on fertility? Explain. (ii)

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