Suppose that Person A earns $35,000 per year and Person B earns $42,000. (i) Find the exact
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Suppose that Person A earns $35,000 per year and Person B earns $42,000.
(i) Find the exact percentage by which Person B’s salary exceeds Person A’s.
(ii) Now, use the difference in natural logs to find the approximate percentage difference.
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Related Book For
Introductory Econometrics A Modern Approach
ISBN: 9781337558860
7th Edition
Authors: Jeffrey Wooldridge
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