Question: Consider the model w = 1 + 2 e + 3 o 5 0 + u , ( w = beta 1 + beta 2

Consider the model w=1+2e+3o50+u,(w = beta1+ beta2 e + beta3 o50+ u) where w is the natural logarithm of hourly wage, e is the education level (in years), o50=1 if the person is more than 50 years of age, and o50=0 if the person's age is 50 years or less.
After fitting the model, the researcher obtained beta3^Hat =-0.1. What is the most appropriate comment on this estimate of -0.1?
Group of answer choices
There is age discrimination; for people over 50 years old, their wage is expected to be 10% lower than people aged 50 or lower, ceteris paribus.
None of the above.
There is age discrimination; the impact of education on wage is 10% less for people older than 50, ceteris paribus.
There is age discrimination, which means that as you get one year older (o50 increase by 1 unit), your wage is expected to decrease by about 10%, ceteris paribus

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