Question: We need conditional expected value Y as per pic 5.7.1. Note: We need only value, not theory(text), please. Using data from IRS Form 5500 filings by U.S. pension plans, I estimated a model of contributions to pension plans asIn(1+c j)=a 0+U j*a 1+ PD j*a 2+ e jWhere the subscript i indicates the pension plan, c is employer contributions per participant, U is a dummy thatequals one if the plan is a union plan, and PD is a dummy that equals if the plan is participant directed (meaning thatthe employee decides how to invest the money). Note that employer contributions can equal zero, since somepension plans are funded entirely by employee contributions.I estimated a Tobit and OLS version of the model. The results are below. Sigma represents the standard deviation ofthe residual. Standard error of coefficients is presented in parentheses below each coefficient.VariableOLSTobitUnion-0.0626***-0.0676***(0.012)(0.014)Participant Directed-0.307***-0.311***(0.007)(0.008)Constant5.894***5.684***(0.006)(0.007)Sigma2.74343.226***Observations744615744615What is the unconditional expected value of Y. That is, E[Y] not E[Y|Y>0]. You can assume both Union and Directparticipant is on. What is the unconditional expected value of Y. That is, E[Y] not E[Y|Y>0]. You can assume both Union and Directparticipant is on.

Name: Question: We need conditional expected value Y as per pic 5.7.1. Note:
Uploaded: 2024-03-20T06:38:44.000Z
Channel: Bartleby
Description: Question: We need conditional expected value Y as per pic 5.7.1. Note: We need only value, not theory(text), please. Using data from IRS Form 5500 filings by U.S. pension plans, I estimated a model of contributions to pension plans asIn(1+c j)=a 0+U