Use the data in WAGE1 for this exercise. (i) Find the average education level in the sample.

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Use the data in WAGE1 for this exercise.

(i) Find the average education level in the sample. What are the lowest and highest years of education?

(ii) Find the average hourly wage in the sample. Does it seem high or low?

(iii) The wage data are reported in 1976 dollars. Using the Internet or a printed source, find the Consumer Price Index (CPI) for the years 1976 and 2013.

(iv) Use the CPI values from part (iii) to find the average hourly wage in 2013 dollars. Now does the average hourly wage seem reasonable?

(v) How many women are in the sample? How many men?

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Introductory Econometrics A Modern Approach

ISBN: 9781337558860

7th Edition

Authors: Jeffrey Wooldridge

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Question Posted: Jul 02, 2020 04:14 AM

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Use the data in WAGE1 for this exercise. (i) Find the average education level in the sample.

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i The average of educ is about 126 years There are two people ...View the full answer

Introductory Econometrics A Modern Approach

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