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A study on 300 factory workers was carried out to determine the factors that affect the workers' wage. The regression results are as follows: W^g=50.00+40.00Ed+30.00Ep+20.00Tw

A study on 300 factory workers was carried out to determine the factors that affect the workers' wage. The regression results are as follows: W^g=50.00+40.00Ed+30.00Ep+20.00Tw Where a. Why dummy variable is included in the above model (2 marks) b. Interpret the variable level of schooling (3 marks) c. Derive and state the regression equation for urban and rural area

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