Question: Write in R code This assignment is to extend on the linear model developed in Lab 02. The equation is based on a Mincer-type model
Write in R code
This assignment is to extend on the linear model developed in Lab 02. The equation is based on a Mincer-type model of earnings: log(wages) = B + B*education + B*experience + B*(experience^2) + e
The assignment is to go through some of the other variables that are available in the Ghana dataset and include them in to the equations as controls.
log(wages) = B + B*education + B*experience + B*(experience^2) + B*control1 + ... + B*control5 + e
For each control, you will need to:
- determine if it should enter the model as a continuous or as a factor variable
- describe why it might be a good indicator of earnings (one sentence is good)
- brief interpretation of the estimation results
Note: you can have all the control variables in the same equation or in 5 separate equations.
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