uitiple Regression Section m female exper totcoll female_totcoll minorty minorty

Question

uitiple Regression Section m female exper totcoll female_totcoll minorty minorty totcoll exper is the number of months of on the job experience minority is one if the individual is African American or Hispanic totcoll is the number of years of higher education Variable1 Obs Mean Std. Dev. Min Max female exper totcoll 6763 .5195919 .499653 6763 122.3816 33.42799 6763 2.265169 2.330202 6763 1419488 .3490235 166 0 10.06667 1 1. How many individuals in the sample are female? 2. What is the average level of college education? . reg lwage exper female totcoll minorty Number of obs 6763 F 4, 6758)620.17 Prob>F df MS Source l Model | 431.843329 4 187.960832 Residual | 1176.45277 6758 .174882978 R-squared =.2685 Adj R-squared = 0.2681 Root MSE .41723 Total | 1608.29609 6762 .237843256 [95% Conf. Interval] 9043167 232029.1903604 Coef. Std. Err t p>It! exper| .9848848 .0001591 25.18 .ee0 female | 2111947 018628 -19.87 .090 totcoll | .8700404 .0822167 31.60 e.eee 003693 0656949 0743859 minorty .0704181 .0146732 4.80 e.000 .0991822 .841654 _cons i 1.719857 .8236652 72.64 8.800 1.672666 1.765449 3. Write the results in equation form. 4. What is the percentage difference between the average wage of women compared to men? 5. On avera ge do women earn statistically less than men? Justify your answer.

Explanation / Answer

Result:

1).

6763*0.5195919 = 3514

2). Average level =2.265169

3).

lwage = 1.719057+0.0040048*exper-0.2111947*female+0.070404*totcall-0.0704181*minority

4).

Percentage of difference is 21.1%.

5).

Calculated t= -19.87, P=0.000 which is significant at 0.05 level. The regression coefficient is negative. Women earn less than men.

5).

True. When sample size increases sample mean approaches population means. Therefore we may expect large sample mean closer to population mean than small sample mean.

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