Statistics and Econometrics – Smoke Marijuana – Statistics Assignment Help

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Internal Code: 1ABFJE
Statistics Assignment Help
Task: 1
Question 1
Suppose you collect data from a survey on wages, education, experience, and gender. In addition, you ask for information about marijuana usage. The original question is: “On how many separate occasions last month did you smoke marijuana?”

Write an equation that would allow you to estimate the effects of marijuana usage on wage, while controlling for other factors. You should be able to make statements such as, “Smoking marijuana five more times per month is estimated to change wage by x%.”

Write a model that would allow you to test whether drug usage has different effects on wages for men and women. How would you test that there are no differences in the effects of drug usage for men and women?

Suppose you think it is better to measure marijuana usage by putting people into one of four categories: nonuser, light user (1 to 5 times per month), moderate user (6 to 10 times per month), and heavy user (more than 10 times per month). Now, write a model that allows you to estimate the effects of marijuana usage on wage.

Using the model in part 3, explain in detail how to test the null hypothesis that marijuana usage has 
no effect on wage.

What are some potential problems with drawing causal inference using the survey data that you collected?

Question 2
Use the data set lawsch85.RData to answer the following questions. Consider an equation to explain the median starting salary for new law school graduates
log(
salary
) =
?
0
+
?
1
LSAT
+
?
2
GP A
+
?
3
log(
libvol
) +
?
4
log(
cost
) +
?
5
rank
+
u,
where
LSAT
is the median LSAT score for the graduating class,
GP A
is the median college GPA for the class,
libvol
is the number of volumes in the law school library,
cost
is the annual cost of attending law school, and
rank
is a law school ranking (with
rank
= 1 being the best).

Estimate the model. State and test the null hypothesis that the rank of law schools has no causal effect on median starting salary (please show clearly the test statistic and the critical value used in your testing).

Are features of students – namely,
LSAT
and
GP A
– individually or jointly significant for explaining 
salary
?

Test whether the size of the class (
clsize
) or the size of the faculty (
faculty
) needs to be added to this 
equation: carry out a single test for joint significance of the two variables.

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