1. Suppose that a pay equity plan has just been put in place in your organization. The pay equity consulting firm did a jobevaluation and assigned points to each of the male-dominated and female-dominated jobs. It then estimated the following maleand female pay lines by ordinary least squares regression, where Y denotes annual earnings, P denotes job evaluation points, andthe subscripts m and f denote male and female respectively:Ym= 5,000 + 100PmYf = 4,000 + 80PfAssume that you were an employee in a female-dominated job and that your job evaluation score was 200.a. What would your pay be before pay equity?2. In the above example, assume that the average job evaluation score was 300 points in male-dominated jobs and 200points in female-dominated jobs.Page 387a. What is the average pay in male-dominated jobs and in female-dominated jobs?b. Use a Oaxaca decomposition to determine the average pay differential between male- and female-dominated jobs into twocomponents: a portion attributable to the differences in job evaluation points (valued according to the male pay for suchpoints) and a portion attributable to differences in pay for the same job evaluation points.

Wage income is earnings by an employee for engaging in job activity by a business or firm. Pay…

1. Suppose that a pay equity plan has just been put in place in your organization. The pay equity consulting firm did a job evaluation and assigned points to each of the male-dominated and female-dominated jobs. It then estimated the following male and female pay lines by ordinary least squares regression, where Y denotes annual earnings, P denotes job evaluation points, and the subscripts m and f denote male and female respectively: Ym = 5,000 + 100Pm Yf= 4,000+80Pf Assume that you were an employee in a female-dominated job and that your job evaluation score was 200. a. What would your pay be before pay equity?

1. Suppose that a pay equity plan has just been put in place in your organization. The pay equity consulting firm did a job evaluation and assigned points to each of the male-dominated and female-dominated jobs. It then estimated the following male and female pay lines by ordinary least squares regression, where Y denotes annual earnings, P denotes job evaluation points, and the subscripts m and f denote male and female respectively: Ym = 5,000 + 100Pm Yf= 4,000+80Pf Assume that you were an employee in a female-dominated job and that your job evaluation score was 200. a. What would your pay be before pay equity?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Kindly provide a correct answer and a detailed explanation. Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
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The following equations have been estimated by Ordinary Least Squares (OLS), where Y denotes annual earnings, P job evaluation points, and the subscripts m and f denote male and female respectively: Ym = 5000 + 100Pm Yf = 4000 + 80Pf Assume the average job evaluation score was 300 points in male-dominated jobs and 200 points in female-dominated jobs. What is the average pay in male-dominated jobs and in female-dominated jobs? Use a Oaxaca decomposition to determine the average pay differential between male and female dominated jobs into two components: a portion attributable to the difference in job evaluation points (valued according to the male pay for such points) and a portion attributable to differences in pay for the same job evaluation points. Use that same decomposition, but this time evaluate the differences in job evaluation points according to the female pay for such points.
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