(Answered) It is likely that parents achievements have some predictive

Statistics

It is likely that parents' achievements have some predictive power for their children's outcomes, as a result of both a hereditary component of intelligence and the possibility that higher educated parents stimulate their children to do well at school. thus we conside the model y= b₁+b₂meduc_i+b₃feduc_i+u_i.

Explain what b₂=b₃ means in economic terms.

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