Question: Using the 526 observations on workers in WAGE1 , we include educ (years of education), exper (years of labor market experience), and tenure (years with

Using the 526 observations on workers in WAGE1 , we include

Using the 526 observations on workers in WAGE1 , we include educ (years of education), exper (years of labor market experience), and tenure (years with the current employer) in an equation explaining In(wage). The estimated equation is In(wage) = .284 + .092educ + .0041exper + .022tenure The coefficient .092 means that, holding exper and tenure fixed, another year of education is predicted to increase In(wage) by .092, which translates into an approximate 9.2% increase in wage. Confirm our interpretation of the coefficient on education as the partial effect of education holding fixed experience and tenure. To show this, we first define educ = on + on exper + oztenure + educ

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