(Answered) In the model wage46educa where wage is measured in hour

Management Studies

In the model: wage=4+6educ+?

a. where wage is measured in $/hour and educ is measured in years, what is the predicted effect on wage of an additional two years of education? How much would a person with no education expect to make?

b. Write in words a one to two sentence definition and explanation in this human captial model for the following concepts:

a. slope of the regression line

b. disturbance

c. homoskedasticity

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