A random sample of workers contains nm = 120 men and nw = 131 women. The sample average of men's weekly earnings is $523.10, and the sample standard deviation is $68.1. The corresponding values for women are w = $485.10 and sw = $51.10. Let Women denote an indicator variable that is equal to 1 for women and 0 for men and suppose that all 251 observations are used in the regression Yi = β0 + β1 Womeni + ui. Find the OLS estimates of β0 and β1 and their corresponding standard errors.

Transcribed Image Text:

Y (1/nm)E m