Consider the following regression Math Score,s = o + ,Math Studyis + 2Age,s + Ei

Question

Consider the following regression Math Score,s = o + ,Math Studyis + 2Age,s + Eis 1 to the number of hours the student spends studying math each week (Math Studyis) and their age (Ageis) Explain in general terms why B1 is unlikely to tell us the causal effect of math study on math test scores. i.e. think about selection issues . Consider the omitted variable "Parental Strictness." Let Strict Parent be an indicator equal to one if the student's parents are strict and zero otherwise. Make a detailed argument about how this omitted variable will bias the estimate of B1. In your discussion, use the omitted variables bias formula (discussing the components in this context), sign the bias, and describe if the regression understates or overstates the true effect of math study on math scores

Explanation / Answer

Consider the following regression Math Score,s = o + ,Math Studyis + 2Age,s + Eis 1 to the number of hours the student spends studying math each week (Math Studyis) and their age (Ageis) Explain in general terms why B1 is unlikely to tell us the causal effect of math study on math test scores. i.e. think about selection issues . Consider the omitted variable "Parental Strictness." Let Strict Parent be an indicator equal to one if the student's parents are strict and zero otherwise. Make a detailed argument about how this omitted variable will bias the estimate of B1. In your discussion, use the omitted variables bias formula (discussing the components in this context), sign the bias, and describe if the regression understates or overstates the true effect of math study on math scores

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