Answer to Question #215035 in Statistics and Probability for Getahun

Question

1.      Use the data file wage to work on using STATA and answer the following questions

a)     Examine the data

b)     Carry out remedial measure(s) if there is any problem with data

c)     Regress HRS on RATE, ERSP, ERNO, NEIN, AGE and DEP

d)    Conduct model specification tests using linktest and ovtest commands of STATA, and interpret the result

e)     Perform multicollinearity test

f)      Perform hetroscedasticity test

g)     Comment on the explanatory power and adequacy of the model

h)     Interpret the regression coefficients