- Estimate a linear regression model for log wages on education, experience, and experience squared. Report regression coefficients and standard errors. Also report the R2
and the estimate of the standard deviation of the random error.
- Predict the effect on average log earnings of increasing everybody’s education level by
Hint: If the regression model is
log(wage)i = β0 + β1 × educi + β2 × experi + β3 × exper2
i + εi
then the effect of increasing education level of individual i by one year is
θi = β1 − β2 − β3 · (2 · experi − 1)
because one year additional education implies one year less work experience. The average affect is the average of this.
After you defined this, compare the task to that in lecture 5 where we consider the
partial effect in a quadratic model. This is not necessary to solve this problem, but
just a reminder to re-check the answer after you have studied lecture 5.
- Can you obtain the above effect by running a regression with a redefined set of covariates? How? Hint: redefined means that the new covariates are functions of the
regressors in the regression model of the first part of this assignment.
- Assume that the error term in the regression has a normal distribution. Predict the
effect on the average level of earnings of the following policy: increase the level of
education for those who currently have education below 12 years of education to 12,
and leave the level of education for others unchanged. Hint: Use the formula for the
mean of the lognormal distribution.
Christians believe that Demons or fallen angels are enemies of God, but they are defeated enemies. Jesus Christ “disarmed the powers” and “humiliated them in public by displaying them in his triumphal parade” (Colossians 2:15 NIV). While we submit to God and resist the devil, we have nothing to fear. ” for greater is he that is in you, than he that is in the world” (1 John 4: 4). Christians believe Angels are personal spiritual beings, who have intelligence, emotions and will. This is true in both kinds of angels good and evil (demons). Angels have intelligence (Matthew 8:29, 2 Corinthians 11: 3, 1 Peter 1:12), show emotions (Luke 2:13, James 2:19, Revelation 12: 7), and show that they have a will (Luke 8 : 28-31; 2 Timothy 2:26; Jude 6). Angels are spiritual beings (Hebrews 1:14), without a real physical body. The fact that they do not have bodies does not affect the fact that they have personalities. The knowledge possessed by angels is limited, by the fact of being created beings. This means that they are not omniscient as God (Matthew 24:36), although they do seem to have greater knowledge than humans. This can be due to three causes. The angels were created as a higher order of creatures in the universe, to what are humans. Therefore, it is innate in them to have a greater knowledge. Angels study the Bible and the world more thoroughly than humans and gain knowledge of it. (James 2:19, Revelation 12:12). Angels obtain knowledge through a long observation of human activities. Unlike humans, angels do not have to study the past; they have already experienced it. That is why they know how others have acted and reacted in situations, and can predict with a high degree of assertiveness how we c>GET ANSWER