Question: Question 3 (3 marks) Consider again the NHL data you used in assignments 1 and 2. We would like to revisit the relationship between Salary

Question 3 (3 marks) Consider again the NHL data you used

Question 3 (3 marks) Consider again the NHL data you used in assignments 1 and 2. We would like to revisit the relationship between Salary and Age. We are going to consider the model: y =3 +5x +5x + ....+5x.+H (1) As in previous assignments, drop individuals who are 36 and older and individuals who have played 5 or less games. Let the variable x represent age. (a) Begin by considering a model where the only RHS variable is Age. - A regression of Salary on Age (you did this in assignment 2). Report the Estimated effect of Age on Salary. What is the effect on Salary of one more year of age? Is this Economically significant

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