Business, 13.11.2019 06:31, gonzalesalexiaouv1bg

We are using data to investigate the the relationship between workers’ education and their wage. the data can be found on blackboard under the folder homework 3 which contains a database wage_data. csv for full-time, full-year workers aged 28-38. a description of the data is provided in the pdf file wage_data_descr. (a) suppose that all assumptions for ols are satisfied and estimate the following regression model: wagei = β0 + β1higheduci + ui , i = 1, . . , n. (4) the higheduc is equal to 1 if the individual accepted more than 12 years of eductaoin and is equal to 0 otherwise. there is no higheduc varialbe in the original dataset so that you need to create the varialbe by yourself. report the value of βˆ 1 and its heteroskedasticity robust standard error. (b) what is β1 measuring in this model.

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We are using data to investigate the the relationship between workers’ education and their wage. the...