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2. You run a ski resort, and a big part of your business is selling ski lessons. You hire ski instructors of various experience levels.

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2. You run a ski resort, and a big part of your business is selling ski lessons. You hire ski instructors of various experience levels. and you also offer a training program; instructors can take classes from time to time. Over the years, you have collected data on the performance of your ski instructors. In particular, every time a person has a lesson, you record the years of experience of the instructor, the number of classes the instructor has taken. and rerunu. a dummy variable equal to one if person 1' returns to the resort in future years. You value repeat business. so you would like it if instructors get more people to return. You estimate the following regression: rerumr=o+lexpeencer+f32coursem+ Bexpericnccixcoursesr-I-e where experiencemnd caursesr are the years of experience and the number of courses of the instructor that person i used. a. Interpret p0. b. Suppose experience and courses both increase the return rate, but courses are more important for less experienced instructors. What signs would you expect for 13, and [33? c. Suppose 1=0.02.2=0.03. and a=0.001. What is the impact of an additional course on the return probability if expert-10? At what value of experience does an additional course have exactly zero impact

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