Question: For the given situation, write what you think the best nonlinear transformation to the variables would be to investigate this change. answer in the form

For the given situation, write what you think the best nonlinear transformation to the variables would be to investigate this change. answer in the form of a regression model.

  • a. In investigating the effect of IQ on salary, we'd like to see the effect in terms of an elasticity.
  • b. We'd like to see how age affects salary. We'd like to investigate whether there is some peak effect of age on salary.
  • c. We'd like to investigate whether there is a differential/heterogeneous effect on age across genders.

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