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In: Statistics and Probability

If you have a regression which is; lnw= alpha + edu + hours + age +...

If you have a regression which is;
lnw= alpha + edu + hours + age + u,
and you wish to say that the returns to education are increasing or decreasing by a certain percentage, how would you say it?

These are my coefficients:
Intercept; -165.854
Education; 65.47584
Hours; 14.38593
Age; -197.859

How would i interpret them? Are they to be timsed by 100?
For example 65.45584*100 = 6,545,584% returns per year?
The number seems very big but the equation is in logs.

Please answer exactly what my question asks and explain how you recieved the answer.

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Expert Solution

orchestra answered 2 years ago
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