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please help me with these questions!!!! When you answer numbers, answer the exact numbers, not approximated ones, except when you answer from Rs regression result.

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please help me with these questions!!!!

When you answer numbers, answer the exact numbers, not approximated ones, except when you answer from Rs regression result. 1. Open ceosall, regress the econometric model below, and answer following questions based on the regression result. log(salary) Bo + B log(sales) + Bzros + B3rosa + u 1.a. When sales changed from $7 million to $7.14 million, how much would CEO salary change? Be careful about the unit. = 1.b. When ros changed by 1, how much would CEO salary change? Again, be careful about the unit. 2. You regressed wage on education and work experience, and obtained the following result. (*) wage = 1 + 0.4educ + 0.2exper where wage is wage, educ is years of education, exper is years of job experience. 2.a. You are interested in the causality from educ to wage. Compare (*) and a simple regression model of wage on educ, which is more likely to satisfy the zero conditional mean? (though maybe neither of them satisfies the ZCM.) 2.b. For a person with 16 years of education and 10 years of job experience, how much of wage does the model (*) predict? > summary(ceosall) salary pcsalary Min. : 223 Min. :-61.00 1st Qu.: 736 1st Qu.: -1.00 Median : 1039 Median : 9.00 Mean : 1281 Mean : 13.28 3rd Qu.: 1407 3rd Qu.: 20.00 Max. :14822 Max. :212.00 pcroe ros Min. :-98.9 Min. :-58.0 1st Qu.:-21.2 1st Qu.: 21.0 Median : -3.0 Median : 52.0 Mean : 10.8 Mean : 61.8 3rd Qu.: 19.5 3rd Qu.: 81.0 Max. :977.0 Max. : 418.0 consprod utility Min. :0.0000 Min. :0.0000 1st Qu.:0.0000 1st Qu. :0.0000 Median :0.0000 Median :0.0000 Mean :0.2871 Mean :0.1722 3rd Qu. :1.0000 3rd Qu.:0.0000 Max. :1.0000 Max. :1.0000 sales roe Min. : 175.2 Min. : 0.50 1st Qu.: 2210.3 1st Qu.:12.40 Median : 3705.2 Median : 15.50 Mean : 6923.8 Mean : 17.18 3rd Qu.: 7177.0 3rd Qu.:20.00 Max. :97649.9 Max. :56.30 indus finance Min. :0.0000 Min. :0.0000 1st Qu.:0.0000 1st Qu. :0.0000 Median :0.0000 Median :0.0000 Mean :0.3206 Mean :0.2201 3rd Qu.:1.0000 3rd Qu. :0.0000 Max. :1.0000 Max. :1.0000 lsalary Isales Min. :5.407 Min. : 5.166 1st Qu.:6.601 1st Qu.: 7.701 Median :6.946 Median : 8.217 Mean :6.950 Mean : 8.292 3rd Qu.:7.249 3rd Qu.: 8.879 Max. :9.604 Max. : 11.489 Call: Zm(formula = log(salary) ~ log(sales) + roe + I(roe^2), data = = ceo Residuals: Min 1Q Median 3Q Max -0.95374 -0.28547 -0.03661 0.22663 2.77608 Coefficients: Estimate Std. Error t value Pr(>ltl) (Intercept) 4.322e+00 3.243e-01 13.329 summary(ceosall) salary pcsalary Min. : 223 Min. :-61.00 1st Qu.: 736 1st Qu.: -1.00 Median : 1039 Median : 9.00 Mean : 1281 Mean : 13.28 3rd Qu.: 1407 3rd Qu.: 20.00 Max. :14822 Max. :212.00 pcroe ros Min. :-98.9 Min. :-58.0 1st Qu.:-21.2 1st Qu.: 21.0 Median : -3.0 Median : 52.0 Mean : 10.8 Mean : 61.8 3rd Qu.: 19.5 3rd Qu.: 81.0 Max. :977.0 Max. : 418.0 consprod utility Min. :0.0000 Min. :0.0000 1st Qu.:0.0000 1st Qu. :0.0000 Median :0.0000 Median :0.0000 Mean :0.2871 Mean :0.1722 3rd Qu. :1.0000 3rd Qu.:0.0000 Max. :1.0000 Max. :1.0000 sales roe Min. : 175.2 Min. : 0.50 1st Qu.: 2210.3 1st Qu.:12.40 Median : 3705.2 Median : 15.50 Mean : 6923.8 Mean : 17.18 3rd Qu.: 7177.0 3rd Qu.:20.00 Max. :97649.9 Max. :56.30 indus finance Min. :0.0000 Min. :0.0000 1st Qu.:0.0000 1st Qu. :0.0000 Median :0.0000 Median :0.0000 Mean :0.3206 Mean :0.2201 3rd Qu.:1.0000 3rd Qu. :0.0000 Max. :1.0000 Max. :1.0000 lsalary Isales Min. :5.407 Min. : 5.166 1st Qu.:6.601 1st Qu.: 7.701 Median :6.946 Median : 8.217 Mean :6.950 Mean : 8.292 3rd Qu.:7.249 3rd Qu.: 8.879 Max. :9.604 Max. : 11.489 Call: Zm(formula = log(salary) ~ log(sales) + roe + I(roe^2), data = = ceo Residuals: Min 1Q Median 3Q Max -0.95374 -0.28547 -0.03661 0.22663 2.77608 Coefficients: Estimate Std. Error t value Pr(>ltl) (Intercept) 4.322e+00 3.243e-01 13.329

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