Question: Q2 Hypothesis Testing (20pt) For this question, assume that wage, = 8 + 0.5education, is an unbiased estimate of the impact of years of education

Q2 Hypothesis Testing (20pt) For this question, assume that wage, = 8 + 0.5education, is an unbiased estimate of the impact of years of education on hourly wage. Ho: =0 b) Define Type I and Type II errors in this economic context. c) Suppose se(6, = 0.28), what is our t-statistic? Make sure to write down the fomula

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