Question: Take themodel Y X1X22e with E[e j X] 0 where Y is wages (dollars per hour) and X is age. Describe how you

Take themodel Y Æ X¯1ÅX2¯2Åe with E[e j X] Æ 0 where Y is wages (dollars per hour) and X is age. Describe how you would test the hypothesis that the expected wage for a 40-year-old worker is

$20 an hour.

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