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Please use model below for this: a. regress log wage on educ, exper and tenure. b. Explain the meaning of the estimated educ coefficient t-ratio

Please use model below for this:

a. regress log wage on educ, exper and tenure. b. Explain the meaning of the estimated educ coefficient

t-ratio p-value Model 2: OLS, using observations 1-935 Dependent variable: wage coefficient std. error const -276.240 106.702 educ 74.4149 6.28699 exper 14.8916 3.25292 tenure 8.25681 2.49763 -2.589 11.84 4.578 3.306 0.0098 3.28-30 * 5.33e-06 * 0.0010 Mean dependent var Sum squared resid R-squared F(3, 931) Log-likelihood Schwarz criterion 957.9455 1.30e+08 0.145880 53.00348 -6864.648 13756.66 S.D. dependent var S.E. of regression Adjusted R-squared P-value(F) Akaike criterion Hannan-Quinn 404.3608 374.3063 0.143127 1.24e-31 13737.30 13744.68

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