QUESTION 1 Suppose you estimate the following results: hourly_wage=5.5+ 0.50edu + 0.10exper+ 0.10(edu*exper) Standard error for betaOhat is 0.50. Standard error for beta1hat is 0.10. Standard error for beta2hat is 0.005. Standard error for beta3hat is 0.03. How would you test whether there is any relationship between years of education and wages? O None of the above HO: beta1-beta2-beta3=0 vs. H1: One or more is nonzero OHO: beta1+beta3*exper=0 vs. H1: beta1+beta3*exper!=0 HO: beta1 beta3=0 vs. H1: beta1!=0 and/or beta3!=0 HO: beta1=0 vs. H1: beta1!=0 HO: beta3=0 vs. H1: beta3!=0 HO: beta1 beta3 vs. H1: beta1!=beta3

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