In this exercise, you will use the data set named HTV in Wooldridge library in Python. This data set includes informatio

[answerhappygod]

In This Exercise You Will Use The Data Set Named Htv In Wooldridge Library In Python This Data Set Includes Informatio 1 (44.18 KiB) Viewed 23 times

In this exercise, you will use the data set named HTV in Wooldridge library in Python. This data set includes information on wages, education, parents' education, and several other variables for 1,230 working men in 1991. 1) Estimate the following regression model by OLS in Python educ = Bo + B, mothereduc + B2 fathereduc + Bzabil + B4abil? + u 2) Upload your Python Code in the message area as instructed. 3) Upload your results in Python code in the message as instructed. 4) Write down the estimated equation. Do not forget to add the sample size and R-squared. 5) Does your estimated equation match with the results you have found in Python? Answer Yes or No? If it is not matching, read the instructions very carefully and report your OWN work. 6) Test the null hypothesis that educ is linearly related to abil against the alternative that the relationship is quadratic. a. State the null hypothesis using the notation introduced in class (If you cannot use Equation Editor, it is OK to write down the null like, for example, HO: betal=0) b. State the alternative hypothesis using the notation introduced in class. (If you cannot use Equation Editor, it is OK to write down the alternative hypothesis like, for example, Hl: beta0 not equal 0) 7) Using the equation in part 4. test Ho: B1 = B2 against a two-sided alternative. Find the p- value of the test. Show all your work. 8) Add the two college tuition variables (tuit17 and tuit18) to the regression model in part 1. Estimate the model