Question: (d) Using the approximation 4 wage=100 |B2+2 B3exper) 4 exper Find the approximate return to the fifth year of experience. What is the approximate return

(d) Using the approximation 4 wage=100 |B2+2 B3exper) 4 exper Find the approximate return to the fifth year of experience. What is the approximate return to the twentieth year of experience? (2 marks) (e) At what level of exper does additional experience actually lower predicted In(wage)? How many people have experience more than the turning point in this sample? (2 marks)

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