Consider the following econometric model wage = B. + Bzeduc + B2female + B3 married + Benonwhite +u, where wage is hourly wage in US$ female is a dummy variable (1 if female, 0 otherwise) married is a dummy variable (1 if married, 0 otherwise), and nonwhite is a dummy variable (1 if not White, 0 otherwise). Here are regression estimates of the above model: reg wage educ female married nonwhite, robust Linear regression Number of obs F(4, 521) Prob > F R-squared Root MSE 526 37.55 0.0000 0.2825 3.1402 Robust Std. Err. Wage Coef. P>It! [95% Conf. Intervall educ female married nonwhite _cons .4949029 -2.087084 1.181312 -.0056151 -.0394287 .0595304 .2582568 .2585029 .374514 .7266146 8.31 -8.08 4.57 -0.01 -0.05 0.000 0.000 0.000 0.988 0.957 .3779538 -2.594437 .6734755 -.7413581 -1.466883 .611852 -1.579732 1.689148 .730128 1.388026 7. Consider the following econometric model: wage = Be + Bieduc + B2female + u. Write down a new econometric model, building on the one shown above, that allows for different returns to education for males and females. [3 marks] 8. Consider the following econometric model: wage = Bo + Bieduc + Bzexper +u. Write down a new econometric model, building on the one shown above, that allows for a quadratic relationship between experience and wage. [3 marks] Consider the following econometric model wage = B. + Bzeduc + B2female + B3 married + Benonwhite +u, where wage is hourly wage in US$ female is a dummy variable (1 if female, 0 otherwise) married is a dummy variable (1 if married, 0 otherwise), and nonwhite is a dummy variable (1 if not White, 0 otherwise). Here are regression estimates of the above model: reg wage educ female married nonwhite, robust Linear regression Number of obs F(4, 521) Prob > F R-squared Root MSE 526 37.55 0.0000 0.2825 3.1402 Robust Std. Err. Wage Coef. P>It! [95% Conf. Intervall educ female married nonwhite _cons .4949029 -2.087084 1.181312 -.0056151 -.0394287 .0595304 .2582568 .2585029 .374514 .7266146 8.31 -8.08 4.57 -0.01 -0.05 0.000 0.000 0.000 0.988 0.957 .3779538 -2.594437 .6734755 -.7413581 -1.466883 .611852 -1.579732 1.689148 .730128 1.388026 7. Consider the following econometric model: wage = Be + Bieduc + B2female + u. Write down a new econometric model, building on the one shown above, that allows for different returns to education for males and females. [3 marks] 8. Consider the following econometric model: wage = Bo + Bieduc + Bzexper +u. Write down a new econometric model, building on the one shown above, that allows for a quadratic relationship between experience and wage. [3 marks]