How do age, education, and other personal characteristics predict our assessment of our health status? Use the

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How do age, education, and other personal characteristics predict our assessment of our health status? Use the data file \(r w m 88\) to answer the following.

a. Tabulate the values of the variable HSAT3, which is a self-rating of health satisfaction, with 1 being the lowest and 3 being highest. What percentages fall into each of the health status categories?

b. Estimate an ordered probit model predicting \(H S A T 3\) using \(A G E, A G E^{2}, E D U C 2=\) years of education, FEMALE \(=1\) if female, MARRIED \(=1\) if married, \(H H K I D S=1\) if there are children under age 16 in the household, and WORKING \(=1\) if employed, 0 otherwise. Which variables have coefficients that are statistically significant at the 5\% level?

c. Estimate the probability that an employed, unmarried male, age 40 with 16 years of education, and no children, will have health satisfaction \(H S A T 3=2\).

d. Estimate the probability that an employed, unmarried male, age 50 with 16 years of education, and no children, will have health satisfaction \(H S A T 3=2\).

e. Estimate the probability that an employed, unmarried male, age 40 with 16 years of education, and no children, will have health satisfaction \(H S A T 3=3\).

f. Estimate the probability that an employed, unmarried male, age 50 with 16 years of education, and no children, will have health satisfaction \(H S A T 3=3\).

g. Estimate the probability that an unemployed, unmarried male, age 50 with 16 years of education, and no children, will have health satisfaction \(H S A T 3=2\). Compare this probability to the result in part (d).

h. Estimate the probability that an unemployed, unmarried male, age 50 with 16 years of education, and no children, will have health satisfaction \(H S A T 3=3\). Compare this probability to the result in part (f).

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Principles Of Econometrics

ISBN: 9781118452271

5th Edition

Authors: R Carter Hill, William E Griffiths, Guay C Lim

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