ECON 306 Homework 5

ECON 306 Homework 5 Answers (Penn State University)Problem 1(50 points total) In the dataset Smoker, there is information on 1196 males from the United States. Data from this sample includes the variables: smoke= 1 for smokers, and 0 for nonsmokers age=age in years educ= number of years of schooling income= family income pcigs= price of cigarettes in the individual’s state Part 1) a) Generate a dummy variable “hi_ed” that is a 1 if a person has 16 or more years of education. b) (...