ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- The following data from a random sample of individuals that are 25 years old. Note, wage is the hourly earnings in US dollars and educ is years of education. i 1 2 3 4 wage 12.18 12.18 20.09 7.39 educ 13 11 16 12 Consider the following model: In(wage)-Bo+B₁educ+u. Calculate the estimate of B₁. Round your answer to two decimal places.arrow_forwardQuestion 18arrow_forwardPlease help asaparrow_forward
- Consider a simple model of marriage and wage Yit = BXit + Sit + Vit where Y is the wage, X is a dummy variable indicating the marital status, S represents "sociability," and V contains other unobserved causal factors. Assume that Vit is independent of Xis for all i, t, s. We observe a panel data of (Yit, Xit). Which of the following condition(s) are sufficient for us to obtain a consistent estimate of B? Sit is independent of Xit Sit does not vary with time t Vit does not vary with time t Sit is independent of Vitarrow_forwardConsider the population regression of log earnings [Y;, where Y,= In(Earnings,;)] against two binary variables: whether a worker is married (D₁, where D₁;= 1 if the th person is married) and the worker's gender (D2;, where D₂;= 1 if the th person is female), and the product of the two binary variables Y₁ = Po+B₁D₁+P₂D2i + P3 (D₁¡ × D₂i) + Hi- The interaction term: O A. indicates the effect of being married on log earnings. B. does not make sense since it could be zero for married males. C. allows the population effect on log earnings of being married to depend on gender. D. cannot be estimated without the presence of a continuous variable.arrow_forwardMany individuals identify more with members of the population with which they share a common background rather than with the overall culture. Shared similarities such as language, national origin, ethnicity, etc., are thus identifiers of the various groups that make up the major culture. A Age cohort Gender identity C Socio-economic D Subculturalarrow_forward
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