Table 1 reports the estimates of the effects of personal characteristics on a monthly wage. The variable birth order measures order ofbirth, 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 indetermining 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? (HintYou 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 theunrestricted model using R2 and TSS from part e.) Table 1. Regression results of the effects of personal characteristics on monthly earnings(1)(2)(3)(4)(5)(6)monthly earnings monthly earnings monthly earnings monthly earnings monthly earnings monthly earningsCoeff./Std. err.15.60**Coeff./Std. err.Coeff./Std. err.Coeff./Std. err.Coeff./Std. err.Coeff./Std. err.16.80***(3.89)62.81***(7.75)years of workexperience14.86***13.22***12.54***16.26**(3.79)59.64***(7.54)-4.13"(3.25)74.89***(6.30)(3.41)70.91***(6.78)(3.88)62.37**(3.38)years of education72.08**(6.72)(7.70)average weekly hours-1.73-1.32-1.60-3.58-3.85(1.79)7.00**(2.00)(2.00)(1.70)8.13**(2.50)(1.80)7.56**(1.95)years with currentemployer3.983.314.15(2.59)(2.57)(2.91)(2.91)(2.84)birth order-12.62-11.59-15.55-15.08-18.84(10.01)(9.92)(11.73)(11.78)(11.52)number of siblings-8.15-8.33-0.812.795.65(7.03)(7.83)179.80***(46.13)12.62**(4.81)-163.81**(6.97)180.88***(43.69)(7.77)179.09***(47.40)(8.00)173.90***(47.22)=1 if marriedfather's education17.58***14.93**in years(4.90)-123.12*(54.63)-55.12(4.85)=1 if black(53.83)=1 if live in south-33.42(31.12)(30.63)179.56***=1 if live inMetropolitan area(31.19)Constant-205.47-84.83-242.33-237.75-160.03-223.27(127.51)(142.52)(146.21)(164.27)(165.38)(161.91)R-squaredN. of cases0.14680.15290.16980.18280.19440.2325935.0000852.0000852.0000680.0000680.0000680.0000

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Description: Table 1 reports the estimates of the effects of personal characteristics on a monthly wage. The variable birth order measures order ofbirth, i.e. 1st child, 2nd child etc. The total variation in monthly wage is 138787905. Use this table to answer th

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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)

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)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

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.)

Table 1. Regression results of the effects of personal characteristics on monthly earnings
(1)
(2)
(3)
(4)
(5)
(6)
monthly earnings monthly earnings monthly earnings monthly earnings monthly earnings monthly earnings
Coeff./Std. err.
15.60**
Coeff./Std. err.
Coeff./Std. err.
Coeff./Std. err.
Coeff./Std. err.
Coeff./Std. err.
16.80***
(3.89)
62.81***
(7.75)
years of work
experience
14.86***
13.22***
12.54***
16.26**
(3.79)
59.64***
(7.54)
-4.13"
(3.25)
74.89***
(6.30)
(3.41)
70.91***
(6.78)
(3.88)
62.37**
(3.38)
years of education
72.08**
(6.72)
(7.70)
average weekly hours
-1.73
-1.32
-1.60
-3.58
-3.85
(1.79)
7.00**
(2.00)
(2.00)
(1.70)
8.13**
(2.50)
(1.80)
7.56**
(1.95)
years with current
employer
3.98
3.31
4.15
(2.59)
(2.57)
(2.91)
(2.91)
(2.84)
birth order
-12.62
-11.59
-15.55
-15.08
-18.84
(10.01)
(9.92)
(11.73)
(11.78)
(11.52)
number of siblings
-8.15
-8.33
-0.81
2.79
5.65
(7.03)
(7.83)
179.80***
(46.13)
12.62**
(4.81)
-163.81**
(6.97)
180.88***
(43.69)
(7.77)
179.09***
(47.40)
(8.00)
173.90***
(47.22)
=1 if married
father's education
17.58***
14.93**
in years
(4.90)
-123.12*
(54.63)
-55.12
(4.85)
=1 if black
(53.83)
=1 if live in south
-33.42
(31.12)
(30.63)
179.56***
=1 if live in
Metropolitan area
(31.19)
Constant
-205.47
-84.83
-242.33
-237.75
-160.03
-223.27
(127.51)
(142.52)
(146.21)
(164.27)
(165.38)
(161.91)
R-squared
N. of cases
0.1468
0.1529
0.1698
0.1828
0.1944
0.2325
935.0000
852.0000
852.0000
680.0000
680.0000
680.0000

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