Q$\mathrm{.}1$ Package installation

$-$ Install the Stata bcuse package or the R wooldridge package.

Q$\mathrm{.}2$ Load data

$-$ Load wage$1$ data from the installed package.

$($If using python or matlab, load the data from R and save it as a csv file on your computer$)$

$-$ Data description:

$*$ Population: US workers in $1976$

$*$ wage: hourly wage$/$dollar unit$/$e$.$g$.$ wage $=5$: $$5$ per hour

$*$ educ: Educational training$/$e$.$g$.$ educ $=12$: Period of attendance: $12$ years

Q$\mathrm{.}3$ Check summary statistics

$-$ Check the summary statistics for the loaded data.

$-$ How many entities are there in total in the data?

$-$ What are the sample mean values $$of wage and educ?

$-$ What is the lowest hourly wage observed in the data?

Q$\mathrm{.}4$ Regression analysis

$-$ Model: wage$=\backslash$beta $0+\backslash$beta $1$educ$+$u

$-$ Find the OLS estimate using the above model.

$-$ Interpret the estimated value.

$-$ Obtain the OLS estimate again using only the women in the data.

$-$ Create a new log$($wage$)$ variable, obtain the OLS estimate using it as the dependent variable, and interpret the estimate.