Question 10. What is the expected value of the elasticity of education on wages for a person ith 15 years of education at its expected wage? (a) 1.5 (b) 150 160 15.15 (c) 150 (d) 1 (e) 160 150 = Wage B1+ẞ2 educ+ €, where . 1. Wage means daily wage measured in dollars. 2. educ means years of education (schooling) The regression output is given below: . reg wage educ Source | SS df MS Number of obs = 100 F(2, 97) 97.14 Model 10000.00 1 5000.00 Prob > F = 0.0000 Residual 10000.00 98 100.00 R-squared = 0.5000 Adj R-squared = 0.4900 Total | 20000.00 99 200.00 Root MSE = 10.000 wage | Coef. Std. Err. t P>|t| [95% Conf. Interval] educ 10.0000 _cons 10.0000 5.0000 10.0000 2.00 1.00 0.050 0.317 0.0000 -20.0000 20.0000 30.0000
Question 10. What is the expected value of the elasticity of education on wages for a person ith 15 years of education at its expected wage? (a) 1.5 (b) 150 160 15.15 (c) 150 (d) 1 (e) 160 150 = Wage B1+ẞ2 educ+ €, where . 1. Wage means daily wage measured in dollars. 2. educ means years of education (schooling) The regression output is given below: . reg wage educ Source | SS df MS Number of obs = 100 F(2, 97) 97.14 Model 10000.00 1 5000.00 Prob > F = 0.0000 Residual 10000.00 98 100.00 R-squared = 0.5000 Adj R-squared = 0.4900 Total | 20000.00 99 200.00 Root MSE = 10.000 wage | Coef. Std. Err. t P>|t| [95% Conf. Interval] educ 10.0000 _cons 10.0000 5.0000 10.0000 2.00 1.00 0.050 0.317 0.0000 -20.0000 20.0000 30.0000
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Transcribed Image Text:Question 10. What is the expected value of the elasticity of education on wages for a person
ith 15 years of education at its expected wage?
(a) 1.5
(b)
150
160
15.15
(c) 150
(d) 1
(e)
160
150
![=
Wage B1+ẞ2 educ+ €, where
.
1. Wage means daily wage measured in dollars.
2. educ means years of education (schooling)
The regression output is given below:
. reg wage educ
Source |
SS
df
MS
Number of obs =
100
F(2, 97)
97.14
Model
10000.00
1
5000.00
Prob > F
=
0.0000
Residual
10000.00
98
100.00
R-squared
=
0.5000
Adj R-squared =
0.4900
Total | 20000.00
99
200.00
Root MSE
=
10.000
wage |
Coef.
Std. Err.
t
P>|t|
[95% Conf. Interval]
educ
10.0000
_cons
10.0000
5.0000
10.0000
2.00
1.00
0.050
0.317
0.0000
-20.0000
20.0000
30.0000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6035f1a2-2c03-490a-9469-88f7b64e730f%2Ff9685cd0-ede1-402f-a520-e19e12717a96%2Fi3qxks_processed.png&w=3840&q=75)
Transcribed Image Text:=
Wage B1+ẞ2 educ+ €, where
.
1. Wage means daily wage measured in dollars.
2. educ means years of education (schooling)
The regression output is given below:
. reg wage educ
Source |
SS
df
MS
Number of obs =
100
F(2, 97)
97.14
Model
10000.00
1
5000.00
Prob > F
=
0.0000
Residual
10000.00
98
100.00
R-squared
=
0.5000
Adj R-squared =
0.4900
Total | 20000.00
99
200.00
Root MSE
=
10.000
wage |
Coef.
Std. Err.
t
P>|t|
[95% Conf. Interval]
educ
10.0000
_cons
10.0000
5.0000
10.0000
2.00
1.00
0.050
0.317
0.0000
-20.0000
20.0000
30.0000
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