Question: 5.1 Consider the wage model given in Table 1.2. Replicate the results of this table, using log of wage rates as the regressand. Apply the

5.1 Consider the wage model given in Table 1.2. Replicate the results of this table, using log of wage rates as the regressand. Apply the various diagnostic tests discussed in the chapter to find out if the log wage function suffers from heteroscedasticity. If so, what remedial measures would you take? Show the necessary calculations.

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