Question: Use dataset WAGE1.DTA . Find the average education level in the sample. What are the lowest and highest years of education? Find the average hourly

  1. Use dataset WAGE1.DTA.
    1. Find the average education level in the sample. What are the lowest and highest years of education?
    2. Find the average hourly wage in the sample. Does it seem high or low?
    3. The wage data are reported in 1976 dollars. Using the Internet or a printed source, find the Consumer Price Index (CPI) for the years 1976 and 2023. What are those numbers?
    4. Use the CPI values from part (iii) to find the average hourly wage in 2013 dollars (WAGE_1976*CPI_2023/CPI_1976). Does the average hourly wage seem reasonable now?
    5. How many women are in the sample? How many men?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Q:

Use Apples financial statements in Appendix A to answer the following. 1. Identify Apples long-term debt as reported on its balance sheet at (a) September 30, 2017, and (b) September 24, 2016. 2....

Q:

Use the data in WAGE 1 .RAW for this exercise. (i) Find the average education level in the sample. What are the lowest and highest years of education? (ii) Find the average hourly wage in the sample....

Q:

Use the data in WAGE1 for this exercise. (i) Find the average education level in the sample. What are the lowest and highest years of education? (ii) Find the average hourly wage in the sample. Does...

Q:

econometrics could you help me to answer these questions? But have to you the R Studio Computer Exercises C1 Use the data in WAGE1 for this exercise. Find the average education level in the sample....

Q:

C1 Use the data in WAGE1.RAW for this exercis (i) Find the average education level in the sample. What are the lowest and highest years of education? (ii) Find the average hourly wage in the sample....

Q:

Econometrics could you solve the problems? and show step by step, and provide formulas if you use it Computer Exercises C1 Use the data in WAGE1 for this exercise. (i) Find the average education...

Q:

Computer Exercises 1 Use the data in WAGET RAW for this exercise ti) Find the average education level in the sample. What are the lowest and highest years of education? (iD Find the average hourly...

Q:

Exercise 1 Suppose we would like to test how accurate home value assessments are in comparison to the prices that the homes ultimately sell for, i.e., test the rationality of assessments of housing...

Q:

PART 7. COMPREHENSIVE CASE 491 PART 77 Comprehensive Case incide the Mind of Shake Shack's Founder introduction York City, Meyer decided to use the body and to examine Meyer is an extremely creative...

Q:

Unit 2: Designing the Operations Designing the operations of an organization or your department - precedes operational management. For .ll _ . example, suppose a wallet manufacture's mission is to '...

Q:

PRACTICAL 1. Generate 40 Integer random numbers using any distribution between 35 and 55. (0.5 Marks) 2. Find mean, median, variance, standard deviation, range, midrange and mode for the random...

Q:

Without doing any calculating, find each derivative. (a) D4x(3x3 + 2x - 19) (b) D12x(100 x11 - 79x10) (c) D11x(x2 - 3)5

Q:

The population of a country has been growing exponentially at the rate of 1.648% a year according to the model P(t) = 21.1e0.01648t where P(t) is the population (in millions) t years after January 1,...

Q:

The official reserve account includes all purchases and sales of international reserve assets such as dollars, foreig all purchases and sales of assets such as stocks, bonds, bank accounts, real...

Q:

please answer only if you know programming language is c++ For this lab, your objective is to define the functions below. Define the void function SwapNodes () that takes three generic type Node...