Could someone please help with these.At how many average weekly hours worked is the marginal effect of hours on predicted wage equal to zero?What is the exact effect (in percent) of an increase of 10 years of education on predicted wage? Consider the following OLS regression output which is estimated with Wage2.dta (seetutorial folder on Blackboard)SourcedfMSNumber of obs935F (4, 930)36.82Model22.646736645.66168416Prob > F0.0000%3DResidual143.009547930.153773706R-squaredAdj R-squared0.1367%3D0.1330%3DTotal165.656283934.177362188Root MSE.39214%3DlwageСoef.Std. Err.P>|t|[95% Conf. Interval]educ.0400982.00683515.870.000.0266843.0535122IQ.005914.00099675.930.000.0039579.0078701hours.0035899.0130370.280.783-.0219954.0291752hours2-.0000842.0001298-0.650.517-.0003389.0001706cons5.649044.324036317.430.0005.0131176.284971where Iwage is the natural logarithm of monthly wage in US$, educ is years of education, IQis points on an IQ intelligence test, hours is average weekly hours worked, and hours2 isexperience squared (hours * hours). Assume that MLR 1-6 hold.

Please find the explanation below. Here we should find at how many average weekly hours worked is…

At how many average weekly hours worked is the marginal effect of hours on predicted wage equal to zero? What is the exact effect (in percent) of an increase of 10 years of education on predicted wage?

At how many average weekly hours worked is the marginal effect of hours on predicted wage equal to zero? What is the exact effect (in percent) of an increase of 10 years of education on predicted wage?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Suppose sales for the past 6 months have been94, 91, 102, 99, 109, and 118 Using a smoothing coefficient of 0.7, what is the exponentially smoothed value for the 4th period? (please round your answer to 1 decimal place)
If the Black Death caused 50 million deaths over 3 years with a 60% population decrease from 80 million to 30 million how do I show the linear progression of the disease from the start of the outbreak in Europe to the 3rd year?
Suppose sales for the past 6 months have been100, 90, 84, 113, 92, and 96 Using a smoothing coefficient of 0.5, what is the exponentially smoothed value for the 4th period? (please round your answer to 1 decimal place)
Suppose sales for the past 6 months have been82, 104, 107, 116, 92, and 116 Using a smoothing coefficient of 0.5, what is the exponentially smoothed value for the 3rd period? (please round your answer to 1 decimal place)
If the arrival and departure rates in an M/M/1 queue are 1/2 per minute and 2/3 per minute respectively, find the average waiting time of a customer in the queue.
Please refer to table. Thanks!
Price elasticity of demand (supply) or simply elasticity of demand (supply) measures the relative or percentage variation experienced by the quantity demanded (supplied) as a consequence of a change in the price of one percent (1%); In other words, it measures the intensity with which buyers (sellers) respond to a change in the priceprice. Elasticity is often used with respect to the price-demand relationship or the price-supply relationship, but the applicability of this concept is not restricted to that single case, but is broader, since the elasticity is calculated in percentages, since it is the only way to obtain a common unit of measure. When calculating the elasticity in arelationship, the units of measurement are maintained, therefore, they do not measure a proportional change, but a propensity, such as the well-known propensit to Keynesian consumption. The rate at which the selling price changes and from a product, with respect to its supply "x", is given by the following…
36. From the following data, estimate the number of persons earning between Rs. 360 and Rs. 370 per day. Wages (in Rs.) (e-4)No. of persons (in '000) 250 Below 340 120 340-360 100 360-380 70 380-400 50 400-420