Refer to the table of estimated regressions below, computed using data for 1998 from the CPS to answer the following que

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Refer To The Table Of Estimated Regressions Below Computed Using Data For 1998 From The Cps To Answer The Following Que 1 (134.52 KiB) Viewed 33 times

Refer to the table of estimated regressions below, computed using data for 1998 from the CPS to answer the following question. The data set consists of information on 4000 full-time full-year workers. The highest educational achievement of each worker was either a high school diploma or a bachelor's degree. The worker's age ranged from 25 to 34 years. The data set also contained information on the region of the country where the person lived marital status, and number of children West is the omitted region. A detailed description of the variables used in the data set is available here Results of Regressions of Average Hourly Earnings on Gender and Education Binary Variables and Other Characteristics Using 1998 Data from the Curren Population Survey Dependent variable: average hourly earnings (AHE). Regressor (1) (2) (3) 3 College (X1) 5 32 5.49 537 (023) (023) (0.23) Female (X2) -2.67 -2.32 -2.32 (0.27) (027) (027) Age (X3) 0.14 0.14 (0.01) (0.01) Northeast (X4) 0.55 (0.22) Midwest (X) 0.59 (0.26) -0.27 (0.28) 12 24 4.01 3.17 Intercept (0.12) (1.09) (105) Summary Statistics and Joint Tests F-statistic for regional effects=0 6.14 SER 6.27 6.22 6.21 R? 0.125 0.195 0.182 n 4511 4511 4511 Note. The numbers in parentheses below each estimated coefficient are the estimated standard errors South (X) Te The regression shown in column (2) was estimated again this time using data from 1992 (4511 observations selected at random from the March 1993 CPS, converted into 1998 dollars using the consumer price index). The results are of AHE = 0.77 +5 29College - 2.59Female +0.40Age, SER=5,85, R2 = 0.21 (0.03) (0.98) (0.20) (0.18) ell The numbers in parentheses are the estimated standard errors Calculate the statistic for the change in the College coefficient between 1992 and 1998 The t-statistic for the change in the College coefficient between 1992 and 1998] e (Round your response to three decimal places) se Was the change in the College coefficient between 1992 and 1998 statistically significant at the 5% significance level? ni O A. Yes