(Answered) Suppose you estimate a model obtaining wage 0620 0506

Statistics

Suppose you estimate a model obtaining, wage = 0.620 + 0.506 × educ + 2.27 × female were wage is measured in dollars/hour and female is a binary variable that is equal to one if the person is a female and zero if the person is a male. The standard errors are 0.67, 0.050 and 0.279, respectively.

(a) Is the ‘gender gap' significantly different from zero?

(b) What is the predicted wage for a female worker with 10 years of education with 16 years?

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