Question: Question 2 Assume that the initial salary for a new employee who has graduated from a Law School is given by the model: log(salary) =

Question 2 Assume that the initial salary for a new employee

who has graduated from a Law School is given by the model:

Question 2 Assume that the initial salary for a new employee who has graduated from a Law School is given by the model: log(salary) = Be + BALSAT + B2 GPA + Bzlog (libvol) + Bdlog (cost) + Bsrank + u Where salary is the median initial salary LSAT is the median graduation test GPA is the College GPA libvol is the number of volumes (books) in the library measured in 1000s cost is the law school cost rank is the law school ranking (Note: higher values mean worse school) 2.3 Assume that we want to check that the coefficients B1, and B2 are statistically different. Propose and critically discuss the appropriate test for this. (10%) (maximum 300 words)

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