Hi,

can anyone help me with this question?

. Consider the regression . log(wage) = 5.2003 + 0.0479educ + 0.0163exper + 0.00471Q + 0.1946urban (0.1205) (0.0077) (0.0033) (0.0010) (0.0275) . Where "wage" is monthly wage, "educ" is years of education, 'exper" is years of work experience, "IQ" represents Intelligent Quotient, which reflects a person's measured intelligence, and "urban" is a binary variable that is equal to 1 for those who live in urban areas and equal to 0 if otherwise. The standard errors are reflected in the parentheses, and the sample size used for these estimates is n = 935. . (a) Interpret the coefficient on IQ. What is the association between a 10 point increase in IQ and monthly wages? . (b) The R2 of this model is 0.1762. How would you interpret it? Will the R2 decrease if another variable is added into the model? Explain