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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.

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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. 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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