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Refer to the table of estimated regressions below, computed using data for 1998 from the CPS, to answer the following question. The data set consists
Refer to the table of estimated regressions below, computed using data for 1998 from the CPS, to answer the following question. The data set consists of information on 4000 full-time full-year workers. The highest educational achievement of each worker was either a high school diploma or a bachelor's degree. The worker's age ranged from 25 to 34 years. The data set also contained information on the region of the country where the person lived, marital status, and number of children. A detailed description of the variables used in the data set is available here A Compute the for each of the regressions Results of Regressions of Average Hourly Earnings on Gender and Education Binary Variables and Other Characteristics Using 1998 Data from the Curren Population Survey Dependent variable: average hourly earnings (AHE). (2) (3) (1) 5.46 5.48 -2.64 -2.62 Regressor College (X1) Female (X2) Age (X3) Northeast (X4) Midwest (5) South (X) Intercept Summary Statistics SER 5.44 -2.62 0.29 0.69 0.29 0.60 -0.27 3.75 12.69 4.40 6.22 6.21 6.27 0.118 0.124 0.172 out n 3193 3193 3193 (Round your response to three decimal places) Variable Definitions Variable AHE College Female Age Ntheast Midwest South West Definition Average hourly earnings (in 1998 dollars). Binary variable (1 if college, 0 if high school). Binary variable (1 if female, o if male). Age (in years). Binary variable (1 if Region = Northeast 0 otherwise) Binary variable (1 if Region = Midwest, otherwise) Binary variable (1 if Region = South, 0 otherwise) Binary variable (1 if Region = West, 0 otherwise)
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