Question: 13. Use the data in the file cps2.dat to estimate the following wage equation: .nt,WAGE) : 9r * PyEDUC -t !1EXPER -t F+FEMALE * sBLACK

13. Use the data in the file cps2.dat to estimate the following wage equation:

.nt,WAGE) : 9r * PyEDUC -t !1EXPER -t F+FEMALE * \sBLACK -t \aMARRIED

-T\UNION -r \ySOUTH t \gFULLTIME a $rcMETRO * e

(a) Discuss the results of the estimation. Interpret each coefficient, and comment on its sign and significance. Are things as you would expect?

(b)i(large data set) Use the data cps.dat to reestimate the equation. What changes do you observe?

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