You want to figure out how much your employee's wages should grow with each additional year of work experience. You collect data on wages and experience (in natural logs) of workers at competing companies, and you estimate the following regression: Ln(wage)=60 + 3.2*In(experience) te, where years of experience predicts annual wages. What is the effect of experience on wages? (interpret the coefficient) Suppose you know that wages increase by 0.8% for every 1% increase in hours worked. If you ran a regression of In(wage) on In(hours worked), what would be the value of the coefficient on In(hours worked)