1. Tabulate the summary statistics of your dependent and independent variables. You should present the statistics (sample size, mean, standard deviation, min, max, median) in clear and readable table formats following the instructions in the lecture handout. Do NOT cut and paste directly from the output of your statistical software. If you have a large number of categorical variables (dummy variables), make sure you start a separate table and report the frequencies. Also, please make sure the variable names are easily understood.
Summary Statistics, using the observations 1 – 408

Variable       Mean Median    S.D. Min Max
Log Wage       10.2       10.2       0.134 9.90 10.7
Bachler (%)    12.2       12.1       2.02 7.44 17.2
Graduate (%) 7.34       6.71       2.69 4.24 2.36
Male (%)       49.3       49,2       0.818 47.2 52.4
Female (%)    50.7       50.8       0.818 47.6 52.8
Age                38.1       38.2       2.30 29.4 44.7
Note that since Wage data is large as compare to other. Therefore, we take log of wages.
2. Is there anything in your summary statistics that requires special attention or explanation? If so, please make sure you explain them.
Since all variable except Graduate( %) seems normally distributed because mean and median are almost

1. (30 pts) Consider the following situation: a rational economic a...