Question: Use the first image to answer the second image 0. Suppose we think experience and education are both related to wages and we formulate the

Use the first image to answer the second image

0. Suppose we think experience and education are both related to wages and we formulate the model In(wage;) = Bo + Breduc; + Byexper + & When we estimate this model on a sample of data, it returns Call: 1m(formula = log(wagel_dropSwage) ~ wagel_dropSeduc + wage1_dropSexper) Residuals : Min 1Q Median 3Q Max -2. 0506 -0.2951 -0.0458 0.3012 1.4490 Coefficients: Estimate Std. Error t value Pr(>It[) (Intercept) 0. 149973 0. 112015 1.339 0. 181 wagel_dropseduc 0. 102860 0. 007896 13.026

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