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We are interested in only a subset of these data. Table 2 reports the definitions of variables that are relevant for our analysis. We can get further insight into the data set using the summarize command. Table 3 reports the summary statistics for the data set.

Definition of the relevant variables in the data set.
Variable name Definition
country County of residence (categorical variable equal to 0, 1, ..., 9)
age Age of the woman
education Number of years of education of the woman
married Dummy variable equal to 1 if the woman is married and 0 otherwise
children Number of children that the woman has in their household
wage Hourly wage rate of the woman
lw Natural logarithm of hourly wage rate
work Dummy variable equal to 1 if the individual is in the workforce and 0 otherwise
Summary statistics of the relevant variables in the data set (using the command: .summarize age education married children wage lw work).
Variable Obs Mean Std. Dev Min Max
Age 2000 36.208 8.28656 20 59
education 2000 13.084 3.045912 10 20
married 2000 .6705 .4701492 0 1
children 2000 1.6445 1.398963 0 5
wage 1343 23.69217 6.305374 5.88497 45.80979
lw 1343 3.126703 .2865111 1.772402 3.824498
work 2000 .6715 .4697852 0 1

We are interested in modeling two things: (1) the decision of the woman to enter the labor force and (2) determinants of the female wage rate. It might be reasonable to assume that the decision to enter the labor force by a woman is a function of age, marital status, the number of children, and her level of education. Also, the wage rate a woman earns should be a function of her age and education.

The decision to enter the labor force

We can use a probit regression to model the decision of a woman to enter the labor force. The results of this estimation are reported in Table 4. However, we can use the predict command to produce some results that we can use to be sure that we understand what the regression results mean. In particular, type in the following two commands:

.predict zbhat, xb

.predict phat, p

These two commands will predict (1) the linear prediction (zbhat) and (2) the predicted probability that the woman will be in the workforce (phat). Table 5 reports the values of these two variables for observations 1 through 10.

Probit estimation of the decision to enter the labor force.
. probit work age education married children
Iteration 0: log likelihood = -1266.2225
Iteration 4: log likelihood = -1027.0616
Probit estimates Number of obs = 2000
LR chi2(4) = 478.32
Prob>chi2 = 0.0000
Log likelihood = -1027.0616 Pseudo R2 = 0.1889
work Coef. Std. Err. z P>z [95% Conf. Interval]
age .0347211 .0042293 8.21 0.000 .0264318 .0430105
education .0583645 .0109742 5.32 0.000 .0368555 .0798735
married .4308575 .074208 5.81 0.000 .2854125 .5763025
children .4473249 .0287417 15.56 0.000 .3909922 .5036576
_cons -2.467365 .1925635 -12.81 0.000 -2.844782 -2.089948
Predicted values of zbhat and phat for observations 1 through 10.
Observation zbhat phat
1 -0.68900 0.24541
2 -0.20290 0.41961
3 -0.48067 0.31538
4 -0.16818 0.43322
5 0.34859 0.63630
6 0.58758 0.72159
7 0.97357 0.83486
8 0.45978 0.67716
9 0.01799 0.50718
10 0.32628 0.62790

Questions & Answers

anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
Daniel
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
Maciej
characteristics of micro business
Abigail
for teaching engĺish at school how nano technology help us
Anassong
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
NANO
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
s.
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
Tarell
what is the actual application of fullerenes nowadays?
Damian
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
Tarell
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
Virgil
is Bucky paper clear?
CYNTHIA
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
NANO
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Harper
Do you know which machine is used to that process?
s.
how to fabricate graphene ink ?
SUYASH Reply
for screen printed electrodes ?
SUYASH
What is lattice structure?
s. Reply
of graphene you mean?
Ebrahim
or in general
Ebrahim
in general
s.
Graphene has a hexagonal structure
tahir
On having this app for quite a bit time, Haven't realised there's a chat room in it.
Cied
what is biological synthesis of nanoparticles
Sanket Reply
what's the easiest and fastest way to the synthesize AgNP?
Damian Reply
China
Cied
types of nano material
abeetha Reply
I start with an easy one. carbon nanotubes woven into a long filament like a string
Porter
many many of nanotubes
Porter
what is the k.e before it land
Yasmin
what is the function of carbon nanotubes?
Cesar
I'm interested in nanotube
Uday
what is nanomaterials​ and their applications of sensors.
Ramkumar Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Econometrics for honors students. OpenStax CNX. Jul 20, 2010 Download for free at http://cnx.org/content/col11208/1.2
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