Identify an economic theory or relationship you could estimate via OLS and describe the hypothesis you would test for that theory or relationship.

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Collen VonLv2

9 Aug 2018

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Question 2:

a) Briefly describe the human capital theory of educational attainment. A verbal description is fine, though a figure might help.

b) Consider the following linear regression model for individual earnings: log W_i =alpha + theta S_1 + U_i where Wi is the earnings of individual i and Si are the years of schooling obtained by i. When will the ordinary least squares (OLS) estimate of theta be an unbiased estimate of the "returns to schooling"?

silvercat77

Discuss which economic theories or relationships you have studied up until now (not just in this class - in all your economics classes) that could be estimated using the multiple linear regression model. Explain your rationale.

Select one or more of the theories or relationships you discussed above and determine what data you would need to estimate such a relationship. Provide examples to support your response. Discuss how the problem you research in the e-Activity was solved using estimation and hypothesis testing. Determine if you would have approached the problem in the same way, and if not, what you might have done differently.

greenelephant920

Discuss which economic theories or relationships you have studied up until now (not just in this class in all your economics classes) that could be estimated using the multiple linear regression model. Explain your rationale. Select one or more of the theories or relationships you discussed above and determine what data you would need to estimate such a relationship. Provide examples to support your response. Discuss how the problem you research in the e-Activity was solved using estimation and hypothesis testing. Determine if you would have approached the problem in the same way, and if not, what you might have done differently.

Use the Internet to find and research a current example of how estimation and hypothesis testing were used to solve a problem. Be prepared to discuss. (e-Activity)

goldbat205

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Identify an economic theory or relationship you could estimate via OLS and describe the hypothesis you would test for that theory or relationship.

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