Consider the data ceosal1 in the R package "wooldridge". NOTE: prepare your answers of the following questions using the
Posted: Sun Apr 17, 2022 6:24 pm
Consider the data ceosal1 in the R package "wooldridge". NOTE:
prepare your answers of the following questions using the
sub-sample between 13-th and 202-th observations (Use
ceosal1[13:202,] to obtain the sub-sample dataset for this
question
Use log(sales) and all sector variables as the IV's (you can
select the base group to be omitted), and use log(salary) as the
DV.
a) With 1% increase in sales, what is the percentage change in
the average of a CEO's salaries, everything else equal? Round your
answer to 2 decimal places.
b) Is the coefficient of log(sales) statistically significant at
the 0.1% significance level?
c) How many "%" more is the average salary of a consprod CEO
compared with a utility CEO? Use a negative number if the
former's salary is lower than the latter. Round your answer to 2
decimal places.
Use R Codes to solve the question.
prepare your answers of the following questions using the
sub-sample between 13-th and 202-th observations (Use
ceosal1[13:202,] to obtain the sub-sample dataset for this
question
Use log(sales) and all sector variables as the IV's (you can
select the base group to be omitted), and use log(salary) as the
DV.
a) With 1% increase in sales, what is the percentage change in
the average of a CEO's salaries, everything else equal? Round your
answer to 2 decimal places.
b) Is the coefficient of log(sales) statistically significant at
the 0.1% significance level?
c) How many "%" more is the average salary of a consprod CEO
compared with a utility CEO? Use a negative number if the
former's salary is lower than the latter. Round your answer to 2
decimal places.
Use R Codes to solve the question.