Styles Part 3. We include south (south =1 if the person lives in the south; south-otherwise), educ (years of education), female (female-1 if the person is female; female otherwise) and married (married-1 if the person is married; married 0 otherwise) as the independent variables. We use lwage (which is log(average hourly earnings)) as the dependent variable. STATA commands and outputs are given in the next page. Based on the outputs, answer the following questions. (25 points) 1) Report the estimation results based on the STATA output in equation form and make sure to report the standard errors for each coefficient, the sample size and R-squared. (8 points) 2) Interpret the coefficient on educ. (4 points) 3) Interpret the coefficient on married. (4 points) 4) What is the predicted wage difference between a person who lives in the south and a person who does not, holding all the other variables equal? Which group cams more? (3 points) 5) What is the predicted wage difference between a married female and a single male, holding all the other variables equal? Which group earns more? (3 points) 6) Test Ho: Bmarried = 0.1 against the alternative of Barried 0.1 at 5% level. Show your calculation of the t-statistics and your testing steps. (3 points) Styles Part 3. We include south (south =1 if the person lives in the south; south-otherwise), educ (years of education), female (female-1 if the person is female; female otherwise) and married (married-1 if the person is married; married 0 otherwise) as the independent variables. We use lwage (which is log(average hourly earnings)) as the dependent variable. STATA commands and outputs are given in the next page. Based on the outputs, answer the following questions. (25 points) 1) Report the estimation results based on the STATA output in equation form and make sure to report the standard errors for each coefficient, the sample size and R-squared. (8 points) 2) Interpret the coefficient on educ. (4 points) 3) Interpret the coefficient on married. (4 points) 4) What is the predicted wage difference between a person who lives in the south and a person who does not, holding all the other variables equal? Which group cams more? (3 points) 5) What is the predicted wage difference between a married female and a single male, holding all the other variables equal? Which group earns more? (3 points) 6) Test Ho: Bmarried = 0.1 against the alternative of Barried 0.1 at 5% level. Show your calculation of the t-statistics and your testing steps. (3 points)