ECON 4400 Lecture 3: Chapter 3 Reviews of Statistics

In June 2015, Gallup conducted a poll of a random sample of 14,683 adults to determine the well-being of people living in the United States. One question asked, did you exercise at least 30 minutes for 3 or more days in the past week?€ In the survey, 58.9% of males and 52.7% of females responded yes to this question. Which of the following is true about this scenario?

A) 58.9% and 52.7% are both parameters.

B) 58.9% and 52.7% are both statistics.

C) If we took another random sample of 14,683 adults, we would expect to get the exact same results.

Policy-makers conducted a random assignment experiment to learn about the effects of co-pay amount (amount NOT covered by insurance that is borne by the patient) on health. Policy-makers estimated the following regression:

Health Index = constant + 0.51 co-pay amount + u

(2.63)

Interpret the coefficient of “co-pay amount” variable.

Suppose the number “2.63” in the parenthesis is the t-test. Is this estimated coefficient significant?

Do you think this estimation is biased or not? Why?

Hello,

I would like to do my graduate research on the Rate of Return on Education. I've thought about the mincer model but I have some concerns.

1. I will survey employees online using online surveys, is it an appropriate approach to select a random sample? (microdata needed aren't available for my country)

2. I am thinking of a sample of 150-200 people, is it enough?

3. The variables I am thinking about are (Salary and Wages, Working Hours, Educational Level, Years of working experience, the average base starting salary after high school, training program length, gender, parent's education).

4. What are the programs I can use to process data for this model

5. Suggestion on this model or another model.

Thank you very much