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(Solved): Consider the regression model wage = 1 + 2 marrmale + 3 marrfem + 4 singfem + 5 edu + u, ...



Consider the regression model wage = β1 + β2 marrmale + β3 marrfem + β4 singfem + β5 edu + u, where - marrmale = 1 for married males (0 otherwise), - marrfem = 1 for married females (0 otherwise), - singfem = 1 for single females (0 otherwise), - edu = years of education. The estimated values are β1 = 1.00, β2 = 1.53, β3 = 0.99, β4 = 1.28, β5 = 0.77. What is the predicted wage difference between married males and married females [ĥwage | marrmale=1, marrfem=0] – [ĥwage | marrmale=0, marrfem=1]? Round your answer to two decimal places. Your Answer:



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