Introductory econometrics

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21. Suppose the relationship between wage, years of education (educ), years of experience (exper), and participation in a job training program (train) is modeled as: log(Wage) = Bo + Bieduc + Bzerper + Bstrain Which of the following is the most accurate interpretation of the coefficient, B3 ? (a) Holding education and experience constant, participating in the training program is predicted to increase the wage by 83%. (b) Holding education and experience constant, participating in the training program in- creases the wage by $B3- (c) Participating in the training program is predicted to increase the wage by 83%%