Table 1 Wage and Related Data for 523 Workers ID Wage Education Experience 1 6 63 9 21 2 6 44 10 42 3 8 68 14 1 4 5 20 14 4 5 9 75 14 17 6 17 00 15 9 7 5 79 12 27 8 25 32 14 9 9 17 27 19 11 10 11 38 14 9 11 14 76 14 17 12 14 95 14 19 13 8 45 9 27 14 8 13 10 30 15 25 98 10 29 16 9 49 14 37 17 10 40 8 44 18 28 86 14 26 19 4 75 13 16 20 26 72 14 33 21 7 43 14 16 22 9 10 8 42 23 4 88 14 9 24 5 85 13 14 25 12 43 14 23 26 7 48 7 45 27 12 17 14 8 28 8 45 12 30 29 4 36 14 8 30 6 18 14 8 31 11 57 16 13 32 5 20 14 46 33 6 11 9 19 34 6 50 20 1 35 12 03 14 19 36 13 88 14 36 37 9 90 14 20 38 13 00 14 35 39 9 75 14 3 40 15 86 16 10 42 14 30 16 14 43 15 60 14 14 44 6 31 10 16 45 5 59 15 8 46 7 80 8 15 47 19 50 19 12 48 6 31 12 13 49 11 70 9 33 50 8 27 14 9 51 11 90 14 7 52 14 30 19 13 53 5 85 14 7 54 6 24 14 16 56 7 15 14 11 57 10 92 15 17 58 8 78 12 13 59 13 00 14 22 60 6 50 14 28 61 8 45 13 17 62 13 98 14 24 63 9 10 3 55 64 14 86 14 3 65 5 20 14 6 66 11 70 12 27 67 16 90 14 19 68 15 89 14 19 69 8 17 14 38 70 8 78 12 41 71 4 36 13 3 72 20 80 16 20 73 6 83 12 15 74 4 55 9 8 75 5 49 9 39 76 3 90 7 43 77 5 20 13 25 78 13 00 14 11 79 6 50 14 12 80 20 80 14 35 81 18 18 16 14 82 17 24 14 16 83 7 93 12 44 84 4 88 19 13 85 11 70 15 8 86 12 29 14 13 87 7 15 13 18 88 11 61 14 18 89 8 13 14 6 90 12 68 13 37 91 8 75 14 2 92 10 12 14 23 93 3 71 14 1 94 4 36 14 10 95 25 98 14 23 96 11 05 14 8 97 12 68 18 9 98 19 50 14 33 99 10 40 14 19 100 14 63 15 14 101 18 20 13 13 102 13 00 12 12 103 8 45 14 8 104 12 78 14 23 105 24 05 16 13 106 16 25 14 9 107 33 80 16 21 108 18 20 6 44 109 13 65 14 4 110 14 30 9 42 111 16 22 15 10 112 16 25 14 11 113 19 50 14 40 114 7 80 14 8 115 12 35 13 29 116 6 50 19 3 117 4 88 13 11 118 16 35 14 12 119 8 95 9 22 120 7 15 14 12 121 9 10 14 7 122 5 85 14 15 123 8 45 14 28 124 15 60 14 20 125 6 50 14 6 126 8 45 14 5 127 8 84 10 30 128 11 38 15 18 129 4 88 14 6 130 5 85 14 16 131 7 80 14 1 132 7 15 14 3 133 16 90 14 8 134 7 35 16 2 135 6 24 10 16 136 9 10 12 9 137 6 83 14 2 138 4 36 8 43 139 11 05 10 38 140 7 80 14 9 141 8 78 14 12 142 11 56 14 18 143 18 48 13 15 144 14 02 13 28 145 11 57 12 27 146 9 75 14 38 147 5 85 14 3 148 14 63 14 41 149 17 49 14 16 150 7 80 15 7 151 6 01 7 33 152 13 76 16 25 153 6 50 14 5 154 10 66 16 17 155 8 13 14 1 156 11 05 14 13 157 32 48 19 18 158 21 65 16 21 159 8 13 16 2 160 5 92 14 4 161 14 63 14 30 162 27 63 15 32 163 16 45 20 13 164 9 75 14 17 165 13 33 16 26 166 4 36 19 9 167 17 49 19 8 168 6 30 18 1 169 34 18 20 32 170 8 56 14 24 171 57 85 16 1 172 19 50 14 42 173 14 63 19 3 174 9 10 14 32 175 13 00 16 22 176 18 89 19 18 177 26 00 21 19 178 29 25 18 12 179 4 74 14 42 180 13 81 14 34 181 32 48 21 29 182 7 80 19 8 183 24 70 21 13 184 17 16 19 10 185 29 25 19 22 186 19 50 19 10 187 8 95 20 15 188 15 40 14 26 189 20 99 16 16 190 18 14 21 14 191 17 11 14 38 192 6 89 14 14 193 5 85 14 7 194 13 00 21 13 195 13 00 12 20 196 13 00 19 7 197 12 19 19 26 198 7 54 19 14 199 23 22 15 36 200 1 30 14 24 201 11 44 16 41 202 11 70 19 7 203 23 61 20 14 204 10 16 14 1 205 13 81 19 6 206 5 85 14 3 207 22 43 18 31 208 13 65 15 14 209 11 99 16 13 210 19 50 19 26 211 29 25 21 14 212 5 92 15 33 213 11 70 14 16 214 17 33 21 10 215 19 50 16 22 216 9 75 16 2 217 5 53 14 29 218 16 25 14 43 219 6 67 14 5 220 4 36 19 14 221 14 45 14 28 222 5 00 13 25 223 8 32 14 45 224 7 23 16 5 225 13 00 14 20 226 7 35 19 6 227 14 95 19 16 228 4 55 13 33 229 4 36 15 2 230 6 18 14 10 231 25 98 16 44 232 4 55 16 6 233 5 20 14 15 234 9 10 14 5 235 8 13 15 4 236 5 85 16 14 237 18 58 16 32 238 6 50 14 14 239 17 88 16 21 240 17 83 14 43 241 9 75 14 27 242 4 94 14 4 244 12 25 14 32 245 7 15 14 20 246 4 88 18 4 247 4 55 14 34 248 7 54 15 5 249 15 60 20 13 250 6 50 16 17 251 11 38 15 10 252 13 00 19 7 253 11 05 14 25 254 11 22 14 18 255 11 70 19 27 256 7 15 19 2 257 14 45 15 13 258 13 00 16 24 259 6 76 21 13 260 10 40 16 15 261 4 63 14 12 262 6 76 14 24 263 15 18 14 43 264 14 72 14 13 265 9 75 14 16 266 7 15 13 24 267 6 50 19 4 268 10 08 14 24 269 6 83 14 45 270 11 70 14 20 271 12 55 14 38 272 6 78 21 10 273 9 10 13 16 274 15 81 14 32 275 6 83 19 2 276 13 42 15 28 277 4 36 19 3 278 10 01 15 8 279 11 93 14 44 280 10 96 14 12 281 5 20 14 8 282 5 37 14 4 283 3 90 14 28 285 9 79 16 1 286 13 69 16 12 287 6 50 14 39 288 19 54 14 24 289 14 63 20 32 290 8 13 19 4 291 4 55 14 25 292 8 91 14 8 293 16 25 15 16 294 15 60 14 5 295 7 80 15 31 296 12 35 14 25 297 5 33 14 15 298 13 56 16 15 300 10 00 14 19 301 7 15 14 21 302 8 32 14 6 303 16 25 14 14 304 8 13 15 30 305 10 40 14 8 306 12 48 10 33 307 11 83 15 16 308 9 75 14 20 309 6 50 15 6 310 9 10 14 10 311 4 62 15 1 312 11 05 14 2 314 10 25 19 17 315 6 83 14 8 316 6 50 14 4 317 12 13 14 15 318 13 65 14 29 319 9 75 14 23 320 12 35 14 39 321 12 48 14 14 322 7 64 20 6 323 14 33 16 12 324 6 50 14 26 325 7 31 16 32 326 16 25 18 6 327 14 06 14 40 328 7 02 14 18 329 9 10 13 12 330 5 97 14 36 331 7 80 14 19 332 15 23 19 42 333 7 31 15 2 334 7 15 14 33 335 6 31 14 14 336 8 78 14 22 337 5 53 14 20 338 7 48 14 15 339 4 55 14 35 340 4 36 14 7 341 13 81 14 45 342 10 40 14 9 343 6 18 14 2 344 11 05 20 3 345 11 51 16 19 346 10 40 14 14 347 7 80 4 54 348 9 29 16 17 349 4 42 9 29 350 7 80 18 26 351 4 88 2 16 352 11 56 9 29 353 5 66 13 20 354 17 03 12 38 355 5 66 9 37 356 4 55 10 48 357 4 94 14 16 358 6 84 9 38 360 21 14 14 14 361 5 53 14 2 362 5 85 19 21 363 10 40 15 15 364 5 20 19 20 365 10 35 16 12 366 5 20 14 7 367 5 40 13 4 368 7 74 15 9 369 4 68 14 43 370 11 38 12 19 371 4 42 9 49 372 5 57 14 38 373 6 96 14 13 374 6 50 14 14 375 9 95 14 20 376 9 03 14 7 377 9 75 14 9 378 4 68 14 6 379 2 28 14 5 380 4 49 15 1 381 12 52 16 22 382 11 04 14 24 383 11 69 14 15 384 4 75 13 8 385 4 55 13 17 386 4 46 14 2 387 7 15 14 20 388 9 01 14 26 389 4 57 12 37 390 4 88 14 41 391 5 43 14 27 392 12 45 14 5 393 19 08 16 16 394 16 25 16 19 395 7 15 14 10 396 6 70 15 1 397 10 40 14 43 398 7 58 15 3 400 9 10 14 26 401 13 00 12 25 402 10 40 14 15 403 8 95 16 10 404 7 22 13 45 405 9 75 13 3 406 11 61 9 47 407 11 70 19 6 408 4 55 12 33 409 7 51 19 3 410 32 50 16 4 411 8 91 16 34 412 8 45 13 39 413 4 88 14 17 414 4 55 10 47 415 5 85 13 2 417 5 43 16 24 418 16 90 14 25 419 5 18 16 6 420 9 75 14 10 421 17 06 14 33 422 5 20 14 12 423 5 14 14 9 424 16 90 13 18 425 11 70 14 10 426 5 92 9 45 427 12 35 10 46 428 5 85 8 14 429 11 38 13 36 430 13 00 15 34 431 23 40 21 15 432 32 48 20 31 433 15 67 19 6 434 28 60 16 15 435 11 38 14 30 436 28 86 21 8 437 22 43 21 5 438 7 80 20 3 439 10 48 15 17 440 12 02 19 5 441 15 60 16 10 442 13 80 18 33 443 7 43 21 3 445 22 75 19 13 446 19 50 21 12 447 10 12 19 6 448 10 14 20 7 449 13 00 19 14 450 32 48 20 5 451 13 37 18 10 452 19 50 21 11 453 15 60 20 24 454 13 76 19 9 455 7 61 21 12 456 14 59 21 19 457 11 13 16 14 458 18 06 19 17 459 7 43 21 7 460 20 53 21 7 461 9 75 19 22 462 14 63 14 28 463 8 00 19 16 464 17 49 19 16 465 8 13 19 7 466 8 45 14 11 467 15 60 14 11 468 11 05 14 16 469 10 40 21 33 470 7 48 14 21 471 20 45 19 4 472 12 82 18 13 473 17 57 21 14 474 7 02 19 10 475 8 13 21 14 476 7 15 19 29 477 6 50 14 4 478 8 13 21 27 479 7 48 14 3 480 26 65 19 14 482 9 10 21 33 483 23 40 19 38 484 15 60 21 18 485 26 52 20 3 486 28 86 21 40 487 21 35 16 19 488 11 22 16 4 489 25 20 19 11 490 18 20 19 16 491 13 00 16 22 492 20 74 20 13 493 26 00 19 28 494 13 00 19 10 495 32 48 19 5 496 14 63 18 5 497 29 68 21 37 498 13 26 20 26 499 13 00 19 4 500 18 20 21 31 501 16 25 20 13 502 7 53 14 42 503 32 48 20 18 504 5 66 14 3 505 14 63 20 10 506 8 68 19 10 507 10 40 19 17 508 23 61 21 7 509 15 60 19 14 510 11 56 19 22 511 12 35 20 14 512 17 75 19 11 513 15 60 21 23 514 19 50 14 39 515 16 48 19 15 516 9 60 16 15 517 20 23 19 10 518 9 69 14 25 519 8 13 16 12 520 8 13 19 7 521 12 19 20 7 522 29 25 19 17 523 9 75 19 10 524 9 10 20 2 525 7 48 10 34 526 9 98 18 11 527 16 25 18 10 528 20 80 14 12 529 15 33 19 6 530 14 77 21 5 531 7 93 14 33 532 30 23 20 25 533 25 85 14 13 534 20 00 19 33 Refer to the wage data given in Table 1 and consider the following model Wage B1 B2 Education, 83Experience, uj a Estimate the regression (5 marks) b For this regression, obtain the absolute values of the residuals as well as their squared values and plot each against education and experience Is there any evidence of heteroscedasticity (10 marks) C Do the Park and Glejser tests on the residuals of this regression with the estimated wage (Wage,) is treated as the independent variable What conclusions can you draw (5 Marks) d If heteroscedasticity is found, what kind of WLS transformation would you recommend to eliminate it (5 Marks) e Run the WLS transformation regression and show the results

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Question: Table 1 Wage and Related Data for 523 Workers ID Wage Education Experience 1 6.63 9 21 2 6.44 10 42 3 8.68 14 1

Table 1
Wage and Related Data for 523 Workers

ID	Wage	Education	Experience
1	6.63	9	21
2	6.44	10	42
3	8.68	14	1
4	5.20	14	4
5	9.75	14	17
6	17.00	15	9
7	5.79	12	27
8	25.32	14	9
9	17.27	19	11
10	11.38	14	9
11	14.76	14	17
12	14.95	14	19
13	8.45	9	27
14	8.13	10	30
15	25.98	10	29
16	9.49	14	37
17	10.40	8	44
18	28.86	14	26
19	4.75	13	16
20	26.72	14	33
21	7.43	14	16
22	9.10	8	42
23	4.88	14	9
24	5.85	13	14
25	12.43	14	23
26	7.48	7	45
27	12.17	14	8
28	8.45	12	30
29	4.36	14	8
30	6.18	14	8
31	11.57	16	13
32	5.20	14	46
33	6.11	9	19
34	6.50	20	1
35	12.03	14	19
36	13.88	14	36
37	9.90	14	20
38	13.00	14	35
39	9.75	14	3
40	15.86	16	10
42	14.30	16	14
43	15.60	14	14
44	6.31	10	16
45	5.59	15	8
46	7.80	8	15
47	19.50	19	12
48	6.31	12	13
49	11.70	9	33
50	8.27	14	9
51	11.90	14	7
52	14.30	19	13
53	5.85	14	7
54	6.24	14	16
56	7.15	14	11
57	10.92	15	17
58	8.78	12	13
59	13.00	14	22
60	6.50	14	28
61	8.45	13	17
62	13.98	14	24
63	9.10	3	55
64	14.86	14	3
65	5.20	14	6
66	11.70	12	27
67	16.90	14	19
68	15.89	14	19
69	8.17	14	38
70	8.78	12	41
71	4.36	13	3
72	20.80	16	20
73	6.83	12	15
74	4.55	9	8
75	5.49	9	39
76	3.90	7	43
77	5.20	13	25
78	13.00	14	11
79	6.50	14	12
80	20.80	14	35
81	18.18	16	14
82	17.24	14	16
83	7.93	12	44
84	4.88	19	13
85	11.70	15	8
86	12.29	14	13
87	7.15	13	18
88	11.61	14	18
89	8.13	14	6
90	12.68	13	37
91	8.75	14	2
92	10.12	14	23
93	3.71	14	1
94	4.36	14	10
95	25.98	14	23
96	11.05	14	8
97	12.68	18	9
98	19.50	14	33
99	10.40	14	19
100	14.63	15	14
101	18.20	13	13
102	13.00	12	12
103	8.45	14	8
104	12.78	14	23
105	24.05	16	13
106	16.25	14	9
107	33.80	16	21
108	18.20	6	44
109	13.65	14	4
110	14.30	9	42
111	16.22	15	10
112	16.25	14	11
113	19.50	14	40
114	7.80	14	8
115	12.35	13	29
116	6.50	19	3
117	4.88	13	11
118	16.35	14	12
119	8.95	9	22
120	7.15	14	12
121	9.10	14	7
122	5.85	14	15
123	8.45	14	28
124	15.60	14	20
125	6.50	14	6
126	8.45	14	5
127	8.84	10	30
128	11.38	15	18
129	4.88	14	6
130	5.85	14	16
131	7.80	14	1
132	7.15	14	3
133	16.90	14	8
134	7.35	16	2
135	6.24	10	16
136	9.10	12	9
137	6.83	14	2
138	4.36	8	43
139	11.05	10	38
140	7.80	14	9
141	8.78	14	12
142	11.56	14	18
143	18.48	13	15
144	14.02	13	28
145	11.57	12	27
146	9.75	14	38
147	5.85	14	3
148	14.63	14	41
149	17.49	14	16
150	7.80	15	7
151	6.01	7	33
152	13.76	16	25
153	6.50	14	5
154	10.66	16	17
155	8.13	14	1
156	11.05	14	13
157	32.48	19	18
158	21.65	16	21
159	8.13	16	2
160	5.92	14	4
161	14.63	14	30
162	27.63	15	32
163	16.45	20	13
164	9.75	14	17
165	13.33	16	26
166	4.36	19	9
167	17.49	19	8
168	6.30	18	1
169	34.18	20	32
170	8.56	14	24
171	57.85	16	1
172	19.50	14	42
173	14.63	19	3
174	9.10	14	32
175	13.00	16	22
176	18.89	19	18
177	26.00	21	19
178	29.25	18	12
179	4.74	14	42
180	13.81	14	34
181	32.48	21	29
182	7.80	19	8
183	24.70	21	13
184	17.16	19	10
185	29.25	19	22
186	19.50	19	10
187	8.95	20	15
188	15.40	14	26
189	20.99	16	16
190	18.14	21	14
191	17.11	14	38
192	6.89	14	14
193	5.85	14	7
194	13.00	21	13
195	13.00	12	20
196	13.00	19	7
197	12.19	19	26
198	7.54	19	14
199	23.22	15	36
200	1.30	14	24
201	11.44	16	41
202	11.70	19	7
203	23.61	20	14
204	10.16	14	1
205	13.81	19	6
206	5.85	14	3
207	22.43	18	31
208	13.65	15	14
209	11.99	16	13
210	19.50	19	26
211	29.25	21	14
212	5.92	15	33
213	11.70	14	16
214	17.33	21	10
215	19.50	16	22
216	9.75	16	2
217	5.53	14	29
218	16.25	14	43
219	6.67	14	5
220	4.36	19	14
221	14.45	14	28
222	5.00	13	25
223	8.32	14	45
224	7.23	16	5
225	13.00	14	20
226	7.35	19	6
227	14.95	19	16
228	4.55	13	33
229	4.36	15	2
230	6.18	14	10
231	25.98	16	44
232	4.55	16	6
233	5.20	14	15
234	9.10	14	5
235	8.13	15	4
236	5.85	16	14
237	18.58	16	32
238	6.50	14	14
239	17.88	16	21
240	17.83	14	43
241	9.75	14	27
242	4.94	14	4
244	12.25	14	32
245	7.15	14	20
246	4.88	18	4
247	4.55	14	34
248	7.54	15	5
249	15.60	20	13
250	6.50	16	17
251	11.38	15	10
252	13.00	19	7
253	11.05	14	25
254	11.22	14	18
255	11.70	19	27
256	7.15	19	2
257	14.45	15	13
258	13.00	16	24
259	6.76	21	13
260	10.40	16	15
261	4.63	14	12
262	6.76	14	24
263	15.18	14	43
264	14.72	14	13
265	9.75	14	16
266	7.15	13	24
267	6.50	19	4
268	10.08	14	24
269	6.83	14	45
270	11.70	14	20
271	12.55	14	38
272	6.78	21	10
273	9.10	13	16
274	15.81	14	32
275	6.83	19	2
276	13.42	15	28
277	4.36	19	3
278	10.01	15	8
279	11.93	14	44
280	10.96	14	12
281	5.20	14	8
282	5.37	14	4
283	3.90	14	28
285	9.79	16	1
286	13.69	16	12
287	6.50	14	39
288	19.54	14	24
289	14.63	20	32
290	8.13	19	4
291	4.55	14	25
292	8.91	14	8
293	16.25	15	16
294	15.60	14	5
295	7.80	15	31
296	12.35	14	25
297	5.33	14	15
298	13.56	16	15
300	10.00	14	19
301	7.15	14	21
302	8.32	14	6
303	16.25	14	14
304	8.13	15	30
305	10.40	14	8
306	12.48	10	33
307	11.83	15	16
308	9.75	14	20
309	6.50	15	6
310	9.10	14	10
311	4.62	15	1
312	11.05	14	2
314	10.25	19	17
315	6.83	14	8
316	6.50	14	4
317	12.13	14	15
318	13.65	14	29
319	9.75	14	23
320	12.35	14	39
321	12.48	14	14
322	7.64	20	6
323	14.33	16	12
324	6.50	14	26
325	7.31	16	32
326	16.25	18	6
327	14.06	14	40
328	7.02	14	18
329	9.10	13	12
330	5.97	14	36
331	7.80	14	19
332	15.23	19	42
333	7.31	15	2
334	7.15	14	33
335	6.31	14	14
336	8.78	14	22
337	5.53	14	20
338	7.48	14	15
339	4.55	14	35
340	4.36	14	7
341	13.81	14	45
342	10.40	14	9
343	6.18	14	2
344	11.05	20	3
345	11.51	16	19
346	10.40	14	14
347	7.80	4	54
348	9.29	16	17
349	4.42	9	29
350	7.80	18	26
351	4.88	2	16
352	11.56	9	29
353	5.66	13	20
354	17.03	12	38
355	5.66	9	37
356	4.55	10	48
357	4.94	14	16
358	6.84	9	38
360	21.14	14	14
361	5.53	14	2
362	5.85	19	21
363	10.40	15	15
364	5.20	19	20
365	10.35	16	12
366	5.20	14	7
367	5.40	13	4
368	7.74	15	9
369	4.68	14	43
370	11.38	12	19
371	4.42	9	49
372	5.57	14	38
373	6.96	14	13
374	6.50	14	14
375	9.95	14	20
376	9.03	14	7
377	9.75	14	9
378	4.68	14	6
379	2.28	14	5
380	4.49	15	1
381	12.52	16	22
382	11.04	14	24
383	11.69	14	15
384	4.75	13	8
385	4.55	13	17
386	4.46	14	2
387	7.15	14	20
388	9.01	14	26
389	4.57	12	37
390	4.88	14	41
391	5.43	14	27
392	12.45	14	5
393	19.08	16	16
394	16.25	16	19
395	7.15	14	10
396	6.70	15	1
397	10.40	14	43
398	7.58	15	3
400	9.10	14	26
401	13.00	12	25
402	10.40	14	15
403	8.95	16	10
404	7.22	13	45
405	9.75	13	3
406	11.61	9	47
407	11.70	19	6
408	4.55	12	33
409	7.51	19	3
410	32.50	16	4
411	8.91	16	34
412	8.45	13	39
413	4.88	14	17
414	4.55	10	47
415	5.85	13	2
417	5.43	16	24
418	16.90	14	25
419	5.18	16	6
420	9.75	14	10
421	17.06	14	33
422	5.20	14	12
423	5.14	14	9
424	16.90	13	18
425	11.70	14	10
426	5.92	9	45
427	12.35	10	46
428	5.85	8	14
429	11.38	13	36
430	13.00	15	34
431	23.40	21	15
432	32.48	20	31
433	15.67	19	6
434	28.60	16	15
435	11.38	14	30
436	28.86	21	8
437	22.43	21	5
438	7.80	20	3
439	10.48	15	17
440	12.02	19	5
441	15.60	16	10
442	13.80	18	33
443	7.43	21	3
445	22.75	19	13
446	19.50	21	12
447	10.12	19	6
448	10.14	20	7
449	13.00	19	14
450	32.48	20	5
451	13.37	18	10
452	19.50	21	11
453	15.60	20	24
454	13.76	19	9
455	7.61	21	12
456	14.59	21	19
457	11.13	16	14
458	18.06	19	17
459	7.43	21	7
460	20.53	21	7
461	9.75	19	22
462	14.63	14	28
463	8.00	19	16
464	17.49	19	16
465	8.13	19	7
466	8.45	14	11
467	15.60	14	11
468	11.05	14	16
469	10.40	21	33
470	7.48	14	21
471	20.45	19	4
472	12.82	18	13
473	17.57	21	14
474	7.02	19	10
475	8.13	21	14
476	7.15	19	29
477	6.50	14	4
478	8.13	21	27
479	7.48	14	3
480	26.65	19	14
482	9.10	21	33
483	23.40	19	38
484	15.60	21	18
485	26.52	20	3
486	28.86	21	40
487	21.35	16	19
488	11.22	16	4
489	25.20	19	11
490	18.20	19	16
491	13.00	16	22
492	20.74	20	13
493	26.00	19	28
494	13.00	19	10
495	32.48	19	5
496	14.63	18	5
497	29.68	21	37
498	13.26	20	26
499	13.00	19	4
500	18.20	21	31
501	16.25	20	13
502	7.53	14	42
503	32.48	20	18
504	5.66	14	3
505	14.63	20	10
506	8.68	19	10
507	10.40	19	17
508	23.61	21	7
509	15.60	19	14
510	11.56	19	22
511	12.35	20	14
512	17.75	19	11
513	15.60	21	23
514	19.50	14	39
515	16.48	19	15
516	9.60	16	15
517	20.23	19	10
518	9.69	14	25
519	8.13	16	12
520	8.13	19	7
521	12.19	20	7
522	29.25	19	17
523	9.75	19	10
524	9.10	20	2
525	7.48	10	34
526	9.98	18	11
527	16.25	18	10
528	20.80	14	12
529	15.33	19	6
530	14.77	21	5
531	7.93	14	33
532	30.23	20	25
533	25.85	14	13
534	20.00	19	33

Table 1Wage and Related Data for 523 WorkersIDWageEducationExperience16.6392126.44104238.6814145.2014459.751417617.0015975.791227825.32149917.2719111011.381491114.7614171214.951419138.45927148.1310301525.981029169.4914371710.408441828.861426194.7513162026.721433217.431416229.10842234.88149245.8513142512.431423267.487452712.17148288.451230294.36148306.181483111.571613325.201446336.11919346.502013512.0314193613.881436379.9014203813.001435399.751434015.8616104214.3016144315.601414446.311016455.59158467.808154719.501912486.3112134911.70933508.271495111.901475214.301913535.85147546.241416567.1514115710.921517588.7812135913.001422606.501428618.4513176213.981424639.103556414.86143655.201466611.7012276716.9014196815.891419698.171438708.781241714.361337220.801620736.831215744.5598755.49939763.90743775.2013257813.001411796.5014128020.8014358118.1816148217.241416837.931244844.8819138511.701588612.291413877.1513188811.611418898.131469012.681337918.751429210.121423933.71141944.3614109525.9814239611.051489712.681899819.5014339910.40141910014.63151410118.20131310213.0012121038.4514810412.78142310524.05161310616.2514910733.80162110818.2064410913.6514411014.3094211116.22151011216.25141111319.5014401147.8014811512.3513291166.501931174.88131111816.3514121198.959221207.1514121219.101471225.8514151238.45142812415.6014201256.501461268.451451278.84103012811.3815181294.881461305.8514161317.801411327.1514313316.901481347.351621356.2410161369.101291376.831421384.3684313911.0510381407.801491418.78141214211.56141814318.48131514414.02132814511.5712271469.7514381475.8514314814.63144114917.4914161507.801571516.0173315213.7616251536.5014515410.6616171558.1314115611.05141315732.48191815821.6516211598.131621605.9214416114.63143016227.63153216316.4520131649.75141716513.3316261664.3619916717.491981686.3018116934.1820321708.56142417157.8516117219.50144217314.631931749.10143217513.00162217618.89191817726.00211917829.2518121794.74144218013.81143418132.4821291827.8019818324.70211318417.16191018529.25192218619.5019101878.95201518815.40142618920.99161619018.14211419117.1114381926.8914141935.8514719413.00211319513.00122019613.0019719712.1919261987.54191419923.2215362001.30142420111.44164120211.7019720323.61201420410.1614120513.811962065.8514320722.43183120813.65151420911.99161321019.50192621129.2521142125.92153321311.70141621417.33211021519.5016222169.751622175.53142921816.2514432196.671452204.36191422114.4514282225.0013252238.3214452247.2316522513.0014202267.3519622714.9519162284.5513332294.361522306.18141023125.9816442324.551662335.2014152349.101452358.131542365.85161423718.5816322386.50141423917.88162124017.8314432419.7514272424.9414424412.2514322457.1514202464.881842474.5514342487.5415524915.6020132506.50161725111.38151025213.0019725311.05142525411.22141825511.7019272567.1519225714.45151325813.0016242596.76211326010.4016152614.6314122626.76142426315.18144326414.7214132659.7514162667.1513242676.5019426810.0814242696.83144527011.70142027112.5514382726.7821102739.10131627415.8114322756.8319227613.4215282774.3619327810.0115827911.93144428010.9614122815.201482825.371442833.9014282859.7916128613.6916122876.50143928819.54142428914.6320322908.131942914.5514252928.9114829316.25151629415.601452957.80153129612.3514252975.33141529813.56161530010.0014193017.1514213028.3214630316.2514143048.13153030510.4014830612.48103330711.8315163089.7514203096.501563109.1014103114.6215131211.0514231410.2519173156.831483166.5014431712.13141531813.6514293199.75142332012.35143932112.4814143227.6420632314.3316123246.5014263257.31163232616.2518632714.0614403287.0214183299.1013123305.9714363317.80141933215.2319423337.311523347.1514333356.3114143368.7814223375.5314203387.4814153394.5514353404.3614734113.81144534210.401493436.1814234411.0520334511.51161934610.4014143477.804543489.2916173494.429293507.8018263514.8821635211.569293535.66132035417.0312383555.669373564.5510483574.9414163586.8493836021.1414143615.531423625.85192136310.4015153645.20192036510.3516123665.201473675.401343687.741593694.68144337011.3812193714.429493725.5714383736.9614133746.5014143759.9514203769.031473779.751493784.681463792.281453804.4915138112.52162238211.04142438311.6914153844.751383854.5513173864.461423877.1514203889.0114263894.5712373904.8814413915.43142739212.4514539319.08161639416.2516193957.1514103966.7015139710.4014433987.581534009.10142640113.00122540210.4014154038.9516104047.2213454059.7513340611.6194740711.701964084.5512334097.5119341032.501644118.9116344128.4513394134.8814174144.5510474155.851324175.43162441816.9014254195.181664209.75141042117.0614334225.2014124235.1414942416.90131842511.7014104265.9294542712.3510464285.8581442911.38133643013.00153443123.40211543232.48203143315.6719643428.60161543511.38143043628.8621843722.432154387.8020343910.48151744012.0219544115.60161044213.8018334437.4321344522.75191344619.50211244710.1219644810.1420744913.00191445032.4820545113.37181045219.50211145315.60202445413.761994557.61211245614.59211945711.13161445818.0619174597.4321746020.532174619.75192246214.6314284638.00191646417.4919164658.131974668.45141146715.60141146811.05141646910.4021334707.48142147120.4519447212.82181347317.5721144747.0219104758.1321144767.1519294776.501444788.1321274797.4814348026.6519144829.10213348323.40193848415.60211848526.5220348628.86214048721.35161948811.2216448925.20191149018.20191649113.00162249220.74201349326.00192849413.00191049532.4819549614.6318549729.68213749813.26202649913.0019450018.20213150116.2520135027.53144250332.4820185045.6614350514.6320105068.68191050710.40191750823.6121750915.60191451011.56192251112.35201451217.75191151315.60212351419.50143951516.4819155169.60161551720.2319105189.6914255198.1316125208.1319752112.1920752229.2519175239.7519105249.102025257.4810345269.98181152716.25181052820.80141252915.3319653014.772155317.93143353230.23202553325.85141353420.001933 Refer to the wage

Refer to the wage data given in Table 1 and consider the following model: Wage; = B1 + B2 Education, + 83Experience, + uj a. Estimate the regression. (5 marks) b. For this regression, obtain the absolute values of the residuals as well as their squared values and plot each against education and experience. Is there any evidence of heteroscedasticity? (10 marks) C. Do the Park and Glejser tests on the residuals of this regression with the estimated wage (Wage,) is treated as the independent variable. What conclusions can you draw? (5 Marks) d. If heteroscedasticity is found, what kind of WLS transformation would you recommend to eliminate it? (5 Marks) e. Run the WLS transformation regression and show the results

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