The following model is used to investigate factors affecting the probability of smoking of adults:smokes = a + alog(cigpric) + a2log(income) +azeduc + asgender + u,where smokes is a dummy variable equal to one if a person smokes, and zero otherwise, log(cigpric) is log of cigarette price, log(income) is log of income, educ refers to years of education of a person, and gender isa binary variable equal to one if a person is male, and zero otherwise. We estimate the model for a random sample of 5000 adults.Which of the following is correct about the estimated regression?Select one:O a. The dependent variable does not have a normal distribution and therefore you cannot use OLS to estimate the model.O b. The conditional variance of the error term is not constant and thus the F-test is invalid.O c.The error term is unlikely to have a normal distribution and thus you cannot use the t-test to test the following hypothesis Ho: a₁ = 0O d. None of the answers is correct. Suppose you collect data from a survey on wages, education (educ), experience (exper), and race (white or not white). Which of the following model would best allow you to test whether the return to education dependon race?Select one:O a. log(wage) = Bo + Bieduc + B₂exper+ B3white + uO b.log(wage) = Bo + Bieduc* white + Brexper + B3exper² + uO c.log(wage) = Bo + Bieduc + Breduc* white + Bzexpеr + B₁еxper² + uO d. log(wage) = Bo + Bieduc + B₂white + Breduc* white + Berper + u

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Answered: The following model is used to…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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You were asked to help with an analysis of birth weights (BW) of 10,000 infants born in NYC during a certain period of time. The aim of the analysis is to see whether the birth weights of the infants are associated with mothers’ AGE at birth (continuous variable in years), mothers’ current HOUSING status (“own” and “not-own”; “own” is the reference group), and NYC boroughs (the BOROUGH variable contains 5 categories “Manhattan”, “Bronx”, “Brooklyn”, “Queens” and “Staten Island”; “Manhattan” is the reference group). Write down the population model that estimates the effect of mother’s AGE on BW while adjusting for mother’s current HOUSING status. If you use dummy or binary variables, specify what they mean. Write down the population model that estimates the effect of mother’s AGE on BW while adjusting for mother’s current HOUSING status and BOROUGH. If you use dummy or binary variables, specify what they mean. Write down the population model that estimates the effect of mother’s AGE…
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