How well do age, education, and other personal characteristics predict our assessment of our health status? Use

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How well do age, education, and other personal characteristics predict our assessment of our health status? Use the data file rwm88 to answer the following.

a. Tabulate the variable HSAT3, which is a self-rating of health satisfaction, with 1 being the lowest and 3 being highest. What percent of the sample assess their health status as \(H S A T 3=1,2\), or 3 ?

b. Estimate an ordered probit model predicting \(H S A T 3\) using \(A G E, A G E^{2}, E D U C 2=\) years of education, and WORKING \(=1\) if employed, 0 otherwise. Which variables have coefficients that are statistically significant at the \(5 \%\) level?

c. Estimate the marginal impact of age on the probabilities of health satisfactions \(\operatorname{HSAT3}=1,2\), or 3 for someone age 40, with 16 years of education, and who is working.

d. Estimate the marginal impact of age on the probabilities of health satisfactions \(\operatorname{HSAT3}=1,2\), or 3 for someone age 70, with 16 years of education, and who is working.

e. Estimate the marginal impact of WORKING on the probabilities of health satisfactions \(H S A T 3=1,2\), or 3 for someone age 40 , with 16 years of education.

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Principles Of Econometrics

ISBN: 9781118452271

5th Edition

Authors: R Carter Hill, William E Griffiths, Guay C Lim

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