Question: Question 1 (d) Consider the regression: Expenditure = + time + . Each observation in the dataset represents a worker. Variables in the dataset are:

Question 1 (d)

Consider the regression: Expenditure = + time + .

Each observation in the dataset represents a worker. Variables in the dataset are: expenditure: monthly expenditure on entertainment time: commuting time to workplace, in hours pass: explained later

d) Suppose instead that City of Sydney gave a "Sydney experience pass" to randomly chosen workers in Sydney, which offers discounts to movie tickets in addition to what Sydney motorway pass offers. Explain why this is not a valid instrument for commuting time in the regression .

Please send me answer ASAP.

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