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4 (25 marks) Suppose you are interested in examining whether gender and level of education influences the age at which an individual marries for the
4 (25 marks) Suppose you are interested in examining whether gender and level of education influences the age at which an individual marries for the first time. Data is collected and a regression is performed with 60 observations. Consider the following regression results: MARR= 3.15 + 3 GEN+ 2.5 EDUttt where MARR is the age of the individual during first marriage (in years). GEN is a dummy variable which takes the value 1 if male and 0 if female. EDU is the level of education (number of years). P-value of GEN and EDU coefficients are 0.02 and 0.04 respectively. Additional analysis reveals the following test statistics: JB = 0.92, White =4.10 and BG = 7.19 where JB is the Jarque-Bera test statistic, White is the White's test statistic and BG is the Breusch-Godfrey test statistic where the number of lag is 2. Unless otherwise stated, assume the level of significance is 5%. (a)State the relationship between the level of education and dependent variable. What is the interpretation of GEN
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