q8b- y = B₁ + B₂x2 + 81 D1 + √2D2 + √3D3 + eThe above model is fitted to model wage (y) against the years of education (x2).The dummy variable D1 takes 1 for male; 0 for female.The dummy variable D2 takes 1 for having children; 0 for having no children.The dummy variable D3 takes 1 for having PhD degree; 0 for having not having PhD degress.What is the reference group?Select one:O a. Female with no children and with PhD degreeO b. Female with no children and no PhD degreeMale with children and PhD degreeMale with no children and PhD degreeC.O d.

The reference group of a regression model is the group with all dummy variables equal to zero. Dummy…

y = B₁ + B₂x2 + 81D1 + √2D2 + √3D3 + e The above model is fitted to model wage (y) against the years of education (x2). The dummy variable D1 takes 1 for male; 0 for female. The dummy variable D2 takes 1 for having children; O for having no children. The dummy variable D3 takes 1 for having PhD degree; O for having not having PhD degress. What is the reference group? Select one: Female with no children and with PhD degree Female with no children and no PhD degree Male with children and PhD degree O d. Male with no children and PhD degree a. O b. O C.

y = B₁ + B₂x2 + 81D1 + √2D2 + √3D3 + e The above model is fitted to model wage (y) against the years of education (x2). The dummy variable D1 takes 1 for male; 0 for female. The dummy variable D2 takes 1 for having children; O for having no children. The dummy variable D3 takes 1 for having PhD degree; O for having not having PhD degress. What is the reference group? Select one: Female with no children and with PhD degree Female with no children and no PhD degree Male with children and PhD degree O d. Male with no children and PhD degree a. O b. O C.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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