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Using data from 50 workers, a researcher estimates Wage =0+1 Education +2 Experience +3 Age...

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Accounting

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Using data from 50 workers, a researcher estimates Wage =0+1 Education +2 Experience +3 Age +, where Wage is the hourly wage rate and Education, Experience, and Age are the years of higher education, the years of experience, and the age of the worker. respectively. The regression results are shown in the following table a-1. Interpret the point estimate for 1 - As Education increases by 1 year, Wage is predicted to increase by 1.81 /hour. As Education increases by 1 year. Wage is predicted to increase by 0.45 /hour. As Education increases by 1 year, Wage is predicted to increase by 1.81/hour, holding Age and Experience constant. As Education increases by 1 year, Wage is predicted to increase by 0.45 hour, holding Age and Experlence constant. a-2. Interpret the point estimate for 2. As Experience increases by 1 year, Wage is predicted to increase by 1.81 thour. As Experience increases by 1 year. Wage is predicted to increase by 0.45 /hour: As Experience increases by 1 year, Wage is predicted to increase by 1.81 hour, hoiding Age and Education constant

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