6- In the following multiple regression model, Ln(Wage) = Μ β+ Μ βAge+ Μ βExperience + u, where Ln(Wage) is natural log of $ hourly wage and age and experience are measured in years. Age is measured as age beyond 16. Assume MLR.1-ML1.6 are satisfied.
OLS, using observations 1-31, Dependent variable: Ln(Wage)
coefficient std. error
const 2.2031 1.0132
Age 0.0192 0.0038
Experience 0.0545 0.0240
Mean dependent var 2.86213 S.D. dependent var 1.1551
Sum squared resid 7.8930 S.E. of regression (ΜΜ£) ?
R-squared ?