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11. Consider the Stata output below: reg wage educ Source SS df MS Number of obs 935 Model Residual 16340644.5 136375524 1 16340644.5 933
11. Consider the Stata output below: reg wage educ Source SS df MS Number of obs 935 Model Residual 16340644.5 136375524 1 16340644.5 933 146168.836 F(1, 933) Prob > F 111.79 0.0000 R-squared 0.1070 Adj R-squared = 0.1060 Total 152716168 934 163507.675 Root MSE 382.32 wage Coef. Std. Err. t P>|t| [95% Conf. Interval] educ _cons 60.21428 146.9524 5.694982 77.71496 10.57 0.000 1.89 0.059 49.03783 71.39074 -5.56393 299.4688 which consists of a sample of US working men aged between 28 and 38 in 1980. Wage is monthly wage and educ is years of education. (a) Interpret the estimated education coefficient? [6 point]
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