Question: Use the data set College Distance described in Empirical Exercise 4.3 to answer the following questions. a. An education advocacy group argues that, on average,

Use the data set College Distance described in Empirical Exercise 4.3 to answer the following questions.

a. An education advocacy group argues that, on average, a person's edu- cational attainment would increase by approximately 0.15 year if dis- tance to the nearest college is decreased by 20 miles. Run a regression of years of completed education (ED) on distance to the nearest col- lege (Dist). Is the advocacy groups' claim consistent with the estimated regression? Explain.

b. Other factors also affect how much college a person completes. Does controlling for these other factors change the estimated effect of dis- tance on college years completed? To answer this question, construct a table like Table 7.1. Include a simple specification [constructed in (a)]. a base specification (that includes a set of important control vari- ables), and several modifications of the base specification. Discuss how the estimated effect of Dist on ED changes across the specifications?

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