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Suppose you have the following fitted model: , where EXP is the number of years of work experience and EARN is the hourly earnings of
Suppose you have the following fitted model: , where EXP is the number of years of work experience and EARN is the hourly earnings of an individual in the sample. Please select the correct interpretation of the slope coefficient. Group of answer choices Every 1% increase in work experience will increase the individual's hourly earnings by 13.43%. An additional year of work experience will increase the individual's hourly earnings by 13.43%. The elasticity of hourly earnings with respect to work experience is 13.43. Every 1% increase in work experience will increase the individual's hourly earnings by 0.1343%. An additional year of work experience will increase the individual's hourly earnings by 0.1343%
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