Question: Consider the following model: WAGE =0+1 EDUC +2 EXPER +3 SIBS +4 BRTHORD +u (a) The model above has been estimated by OLS, with the

Consider the following model: WAGE =0+1 EDUC +2 EXPER +3 SIBS +4 BRTHORD +u (a) The model above has been estimated by OLS, with the following results: Does the number of siblings have an impact on wages? Explain. Does the birth order have an impact on wages? Explain. (b) A regression where SIBS and BRTHORD have been dropped produced the following resu Formulate a hypothesis that the number of siblings and birth order jointly have no impact on wages. Test the hypothesis using the information provided, and interpret the result. Consider the following model: WAGE =0+1 EDUC +2 EXPER +3 SIBS +4 BRTHORD +u (a) The model above has been estimated by OLS, with the following results: Does the number of siblings have an impact on wages? Explain. Does the birth order have an impact on wages? Explain. (b) A regression where SIBS and BRTHORD have been dropped produced the following resu Formulate a hypothesis that the number of siblings and birth order jointly have no impact on wages. Test the hypothesis using the information provided, and interpret the result

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