Consider the following equation: ^Salary i = 5284.33 + 68.15 Edu i - 286.95 Di +...

Consider the following equation:

^Salary i = 5284.33 + 68.15 Edu i - 286.95 Di + 85.62 Edu i Di

Edu i - number of years of education for an individual

Di = 1 if the individual is a male

Di = 0 if the individual is a femal.

a) what type of dummy variable is Di?

b) what type of dummy variable is Edu i Di ?

c) write a statement explaining the meaning of the coefficient of Edu i Di.

Expert Solution

orchestra answered 2 years ago

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