You use a random sample of 1,002 individuals and estimate the following OBS model wage = 10.6 | 1.2 Schooling Where wage is measured in dollars per hour and schooling is measured in the number of years of education. You have also calculated TSS 8,000 and SER 200 If a person increases the number of years of sehooling by 4 years, what is the predicted eflect on their wage: b. The sample average for wage is 525/hour: What is the sample average for years ol schoolingi The sample covariance for wage and shading is 2015. What is the sample standard deviation for years of schoolingt d What is the R2? e if the education variable is in months of schooling rather than years (assume a year of schooling $ 12 months what and R, SER and 1,2 You use a random sample of 1,002 individuals and estimate the following OBS model wage = 10.6 | 1.2 Schooling Where wage is measured in dollars per hour and schooling is measured in the number of years of education. You have also calculated TSS 8,000 and SER 200 If a person increases the number of years of sehooling by 4 years, what is the predicted eflect on their wage: b. The sample average for wage is 525/hour: What is the sample average for years ol schoolingi The sample covariance for wage and shading is 2015. What is the sample standard deviation for years of schoolingt d What is the R2? e if the education variable is in months of schooling rather than years (assume a year of schooling $ 12 months what and R, SER and 1,2