Question: Use SMOKE for this exercise. (i) A model to estimate the effects of smoking on annual income (perhaps through lost work days due to illness,

Use SMOKE for this exercise.

(i) A model to estimate the effects of smoking on annual income (perhaps through lost work days due to illness, or productivity effects) is log1income2 5 b0 1 b1cigs 1 b2educ 1 b3age 1 b4age2 1 u1, where cigs is number of cigarettes smoked per day, on average. How do you interpret b1?

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