Consider the following regression estimation of hourly wages on education, experience and experience squared: wage = 15.4 + 0.85 · educ + · exper - 0.05 · exper² where the coefficient on experience is 6. What is the effect on hourly wages of one extra year of experience evaluated at 10 years of experience, all else equal? Enter the answer with one decimal point. For example, if your answer is 4.5, enter it as 4.5, and if it is 4, enter it as 4.0 Your Answer: 6.5 % (5.0)
Consider the following regression estimation of hourly wages on education, experience and experience squared: wage = 15.4 + 0.85 · educ + · exper - 0.05 · exper² where the coefficient on experience is 6. What is the effect on hourly wages of one extra year of experience evaluated at 10 years of experience, all else equal? Enter the answer with one decimal point. For example, if your answer is 4.5, enter it as 4.5, and if it is 4, enter it as 4.0 Your Answer: 6.5 % (5.0)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 6PPS
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