Table 8.1 on page 284 of your textbook displays the following estimated earnings function in column (4): = 1.503 + 0.1032 × educ - 0.451 × DFemme + 0.0143 × (DFemme×educ)
(0.023)(0.0012)(0.024)(0.0017)
+ 0.0232 × exper - 0.000368 × exper2 - 0.058 × Midwest - 0.0098 × South - 0.030 × West
(0.0012)(0.000023)(0.006)(0.006)(0.007)
n = 52.790, 2 = 0.267
Given that the potential experience variable (exper)is defined as (Age-Education-6)find the age at which individuals with a high school degree (12 years of education)and with a college degree (16 years of education)have maximum earnings,holding all other factors constant.

Question

Table 8.1 on page 284 of your textbook displays the following estimated earnings function in column (4):  = 1.503 + 0.1032 × educ - 0.451 × DFemme + 0.0143 × (DFemme×educ)
(0.023)(0.0012)(0.024)(0.0017)
+ 0.0232 × exper - 0.000368 × exper2 - 0.058 × Midwest - 0.0098 × South - 0.030 × West
(0.0012)(0.000023)(0.006)(0.006)(0.007)
n = 52.790,  2 = 0.267
Given that the potential experience variable (exper)is defined as (Age-Education-6)find the age at which individuals with a high school degree (12 years of education)and with a college degree (16 years of education)have maximum earnings,holding all other factors constant.

Quizplus · Accepted Answer

The Answer of Table 8.1 on page 284 of your textbook displays the following estimated earnings function in column (4):  = 1.503 + 0.1032 × educ - 0.451 × DFemme + 0.0143 × (DFemme×educ)
(0.023)(0.0012)(0.024)(0.0017)
+ 0.0232 × exper - 0.000368 × exper2 - 0.058 × Midwest - 0.0098 × South - 0.030 × West
(0.0012)(0.000023)(0.006)(0.006)(0.007)
n = 52.790,  2 = 0.267
Given that the potential experience variable (exper)is defined as (Age-Education-6)find the age at which individuals with a high school degree (12 years of education)and with a college degree (16 years of education)have maximum earnings,holding all other factors constant.

Table 81 on Page 284 of Your Textbook Displays the Following