Write the estimated regression model as an equation

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

ASSESSMENT TASK

Question 1 (Total 50 marks)

The data set consists of 1,230 individuals, including information on education, wages, parents’ education, and other variables. You are interested in the intergenerational education mobility. The dependent variable is individual’s years of schooling. ‘motheduc’ is mother’s years of schooling and ‘fatheduc’ is father’s years of schooling. You have the following results in Table 1.

Table 1

 a) Write the estimated regression model as an equation (10 marks)

b) Using the results in the table above, interpret the coefficient on parental education 

(10 marks)

c) Explain the overall goodness of fit of the model. 

(5 marks)

d) A second regression includes the ability score (‘abil’) in the regression. The ability score measures cognitive skills. Why do the coefficients of parental education change in Table 2 compared to Table 1?

(10 marks)

Table 2

 e) Is the impact of parental education on their children’s level of education in Table 2 unbiased?

 

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