Answer the following questions based on the regression equation: ({widehat{text { Wage }_{i}}}_{i}=200+40) experience (_{i}+70) female (_{i}+20)
Question:
Answer the following questions based on the regression equation:
\({\widehat{\text { Wage }_{i}}}_{i}=200+40\) experience \(_{i}+70\) female \(_{i}+20\) education \(_{i}\)
a. Which one do you think can be a dummy variable? Why?
b. What is the predicted wage of a female employee if she has 5 years of experience and education?
c. Assume that all female employees have a master's degree and none of the male employees have a formal education degree. In this scenario, do you think that there are any chances of interaction? State the reason.
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Step by Step Answer:
a The variable female can be a dummy variable A dummy variable is a binary or categorical variable t...View the full answer
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Related Book For 
Public Finance An International Perspective
ISBN: 9789814365048
1st Edition
Authors: Joshua E. Greene
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