ECON382

Cuny City College

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Answers to HW4 CUNY Queens College ECON382|100% correct
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January 2023

2022/2023

A+
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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