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To establish age-earnings relationship, you use Earn as a dependent variable and regress it on age, where Earn is monthly earnings in dollars, and Age

To establish age-earnings relationship, you use Earnas a dependent variable and regress it on age, where Earn is monthly earnings in dollars, and Age is in years. Plotting the residuals of the regression against age for about 1800 individuals looks as shown in the figure:

image text in transcribed
NO O C 3900 O RES -2 O 00 0 00 O O O O -4 O -6 O 20 40 60 80 100 AGE

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