A researcher interviews 50 employees of a large manufacturer and collects data on each worker's hourly wage (Wage), years of higher education (EDUC), experience (EXPER), and age (AGE). A portion of the data is shown in the accompanying table.

Wage EDUC EXPER AGE

$37.85.............11.................2...............40

21.72................4.................1...............39

⋮.......................⋮.................⋮..................⋮

24.18................8...............11...............64

a. Estimate:

Wage = β0 + β1EDUC + β2EXPER + β3AGE + ε.

b. The researcher wonders if the influence of experience is different from that of age, or if β2 ≠ β3. Specify the competing hypotheses for this test.

c. What is the restricted model given that the null hypothesis is true? Estimate this model.

d. At the 5% significance level, can you conclude that the influence of experience is different from that of age?