PRMINWGE.RAW Add the variable \( \log (p r g n p) \) to the minimum wage equation in (10.38). Is this variable significant? Interpret the coefficient. How does adding \( \log ( \) prgnp \( ) \) affect the estimated minimum wage effect? \[ \begin{aligned} \overline{\log \left(\text { prepop }_{t}\right)}= & -8.70-.169 \log \left(\text { mincov }_{t}\right)+ \\ & (1.30)(.044) \\ & -.032 t \\ & (.005) \\ n= & 38, R^{2}=.847, \bar{R}^{2}=.834 \end{aligned} \] \[ [10.38] \]
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38). The equation becomes: \[ \begin{aligned} \overline{\log \left(\text{prepop}_{t}\right)} = & -8.70 - 0.169 \log \left(\text{mincov}_{t}\right) + (1.30)(0.044) - 0.032 t + (0.005) \\ & + \beta \log (\text{prgnp}) \end{aligned} \] Show more…
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