1. Descriptive statistics (2 points)
a. (1 point) What is the number of observations and the number of variables in the data set? WRITE DOWN THESE STATISTICS HERE
b. (1 point) Compute the sample mean, the sample median, the sample standard deviation for current salary (SALARY). WRITE DOWN THESE STATISTICS HERE.
2. Generate new variables (2 points)
a.(1 point) Construct a new variable ED16 that takes value 1 if the individual has 16 years of education or more (EDUC is greater than or equal to 16) and 0 if the individual has fewer than 16 years of education (EDUC is smaller than 16)
b. (1 point) Construct a new variable HIWAGE that takes value 1 if the individual’s salary (SALARY) is greater than the average salary for the entire sample.
3. Events and their probabilities (5 points)
a. (1 point) How many individuals have 16 years of education or more? WRITE DOWN THE STATISTICS HERE.
b. (1 point) What is the probability that a randomly selected individual has 16 years of education or more? WRITE DOWN THE STATISTICS HERE.
c. (1 point) What is the proportion of women in the sample? WRITE DOWN THE STATISTICS HERE.
d. (1 point) Conditional on 16 years of education or more, what is the probability that an individual has higher than average salary? (HINT: Use the variable HIWAGE created at point 2) WRITE DOWN THE STATISTICS HERE.
e.(1 point) Are having 16 years of education ore more and having higher than average salary independent events? EXPLAIN. SHOW ALL YOUR CALCULATIONS (NO CREDIT WILL BE GIVEN FOR YES/NO ANSWERS)
4. Comparison of means (5 points
a. (1 point) Compute the average salary (SALARY) for men and the average salary for women. WRITE DOWN THE RESULT HERE
b. (1 point) Compute the average number of years of education (EDUC) for men and the average number of years of education for women. WRITE DOWN THE RESULT HERE
c. (1 point) Compute the average number of months with the company (JOBTIME) for men and the average number of months with the company for women. WRITE DOWN THE RESULT HERE
d. (1 point) Compute the average number of months of previous experience (PREVEXP) for men and the average number of months of previous experience (PREVEXP) for women. WRITE DOWN THE RESULT HERE
a. (1 point) Summarize your findings at points a-d. Answer the following questions: (1) Are there any gender wage differentials? (2) Could the gender wage differentials be explained, in part, by differences in other personal characteristics? EXPLAIN YOUR ANSWER. (NO CREDIT WILL BE GIVEN FOR YES/NO ANSWERS)
5. Correlation Coefficients (2 points)
a. (1 point) Compute the correlation coefficient for number of years of education (EDUC) and salary (SALARY). WRITE DOWN THE STATISTICS HERE.
b. (1 point) What does the correlation coefficient suggests? (COMMENT ON THE SIGN & STRENGTH, AND EXPLAIN THE IMPLIED RELATIONSHIP BETWEEN THE VARIABLES).
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