Question: Use the second image to answer the first Imagine instead of estimating the model wage, = Bo + Reduc, + 8, we instead estimate In

Use the second image to answer the first

Imagine instead of estimating the model wage, = Bo + Reduc, + 8, we instead estimate In (wage;) = Bot reduci + ; Which gives us the estimated regression: Call: 1m(formula = log(wage1_dropSwage) ~ wage1_dropSeduc) Residuals : Min 10 Median 30 Max -2. 20632 -0.35742 -0. 06736 0. 30131 1. 52865 Coefficients: Estimate Std. Error t value Pr (>|t[) (Intercept) 0. 524577 0. 101366 5. 175 3.26e-07 wagel_dropSeduc 0. 087238 0. 007865 11.092

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