Week 5 – final paper/project | ECO 342 Principles of Econometrics | Ashford University


Complete problem 6.28 at the end of Chapter 6 in the text and submit to your instructor. Complete all necessary portions in Excel and submit your completed Excel workbook and paper to your Instructor for grading. Completely answer sections a through g.

6.28. Based on the Current Population Survey (CPS) of March 1995, Paul Rudd extracted a sample of 1289 workers, aged 18 to 65, and obtained the following information on each worker:

  • Wage = hourly wage in $
  • Age = age in years
  • Female = 1 if female worker
  • Nonwhite = 1 if a nonwhite worker
  • Union = 1 if a union member
  • Education = years of schooling
  • Experience = potential labor market experience in years
  • The full data set can be found as Table 6-16 on the textbook’s Web site.
  1. Based on these data, estimate the following model, obtaining the usual regression statistics.1n Wagei = B1 + B2 Age + B3 Female + B4 Nonwhite + B5 Union + B6 Education + B7 Experience + ui
    where 1n Wage = (natural logarithm of Wage)
  2. How do you interpret each regression coefficient?
  3. Which of these coefficients are statistically significant at the 5% level? Also obtain the p value of each estimated t value.
  4. Do union workers, on average, earn a higher hourly wage?
  5. Do female workers, on average, earn less than their male counterparts?
  6. Is the average hourly wage of female nonwhite workers lower than the average hourly wage of female white workers? How do you know? (Hint: interaction dummy.)
  7. Is the average hourly wage of female union workers higher than the average hourly wage of female non-union workers? How do you know?

Writing the Final Project
The Final Project:

  • Must include a title page with the following:
    • Title of paper
    • Student’s name
    • Course name and number
    • Instructor’s name
    • Date submitted
  • Must address the topic of the paper with critical thought.
  • Must document all sources in APA style, as outlined in the Ashford Writing Center.
  • Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.

Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your final project.

Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
Our Guarantees
100% Confidentiality
Information about customers is confidential and never disclosed to third parties.
Original Writing
We complete all papers from scratch. You can get a plagiarism report.
Timely Delivery
No missed deadlines – 97% of assignments are completed in time.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.