Use the following information to answer Questions 1-8. Consider the following model In(wage) Bo + Bezper + Batenure + u

[answerhappygod]

Use The Following Information To Answer Questions 1 8 Consider The Following Model In Wage Bo Bezper Batenure U 1 (20.72 KiB) Viewed 24 times

Use The Following Information To Answer Questions 1 8 Consider The Following Model In Wage Bo Bezper Batenure U 2 (42.82 KiB) Viewed 24 times

Use the following information to answer Questions 1-8. Consider the following model In(wage) Bo + Bezper + Batenure + u where wage is the monthly salary in dollars, exper is the number of years in the work force, tenure is the number of years at the current job. The OLS estimated equation is In (wage) 5.89 +0.0182 x exper+0.0022 x tenure, with R20.066.

Question 2 What is the fitted value, In (wage), for a worker with 10 years in the work force and 5 years at the current job? (Keep 3 decimal points.) Question 3 5 pts Question 4 5 pts If exper is measured in months ins[ead of years, what will the OLS estimate of B₁ be? (Keep 4 decimal points.) How much of the variation in In(wage) is explained by model? (Put your answers in decimal points instead of a percentage. Keep 3 decimal points.) 5 pts