Based on the regression estimate in Problem 4, evaluate the statistical significance of the estimated coefficients in

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Based on the regression estimate in Problem 4, evaluate the statistical significance of the estimated coefficients in the regression.

Problem 4

Suppose you have information on which of the 13 randomly selected teenage workers in the fast-food industry worked part-time and which worked fulltime.

Variable Fi is equal to 1 if the worker is employed full time, and it is equal to zero otherwise. With this information, you estimate the following relationship between wages, age, and full-time employment:image text in transcribed

a. How much is a 20-year-old who works full time predicted to earn based on this estimate?

b. How much is a 20-year-old who works part time predicted to earn based on this estimate?

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