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2) Consider the following table, where the unit of observation is an individual, and the dependent variable in each regression is annual income in dollars.
2) Consider the following table, where the unit of observation is an individual, and the dependent variable in each regression is annual income in dollars. Each column represents a separate regression. The standard errors of the coefficients are reported in parentheses. Woman is a dummy variable which equals 1 if an individual is a woman; and equals 0 otherwise. [11 marks] Dependent Variable: Income in Dollars Model 1 Model 2 Model 3 Model 4 4362.88** 4364.63** 5243.88** * * Years of Schooling * 5188.76*** (1214.52) (1242.74) (1439.94) (1625.75) 2324.86** Woman 2924.86*** (861.57) (1061.27) le Woman X Years of Schooling 1126.83***e (323.42) ] Province Fixed Effects No Yes No No Adjusted R-squared 0.256 0.2532 0.2972 0.311 le Observations 106,2222 106,2222 106,2222 106,222 * p
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