Suppose X1, ..., Xn are iid with PDF f (x | 0) = 40ªx-5. x > 0, where 0 > 0. Find the method of moments estimator of . Is this estimator unbiased?

What do you mean by AIC Lag Length Estimator?

Table 1 reports the estimates of the effects of personal characteristics on a monthly wage. The variable birth order measures order of birth, i.e. 1st child, 2nd child etc. The total variation in monthly wage is 138787905. Use this table to answer the following questions: a) In column 6, are the effects of being black, living in the south, and living in metropolitan jointly important variables in determining monthly wage? (Hint: You can use R² to test this hypothesis). b) In column 5, are the effects of being black and living in the south jointly important variables in determining monthly wage? (Hint You can use R² to test this hypothesis). c) Do explanatory (independent) variables in column 6 jointly explain monthly wages? (Hint: You can compute RSS from the unrestricted model using R2 and TSS from part e.)

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