Could someone please help with these.At how many average weekly hours worked is the marginal effect of hours on predicted wage equal to zero?What is the exact effect (in percent) of an increase of 10 years of education on predicted wage? Consider the following OLS regression output which is estimated with Wage2.dta (seetutorial folder on Blackboard)SourcedfMSNumber of obs935F (4, 930)36.82Model22.646736645.66168416Prob > F0.0000%3DResidual143.009547930.153773706R-squaredAdj R-squared0.1367%3D0.1330%3DTotal165.656283934.177362188Root MSE.39214%3DlwageСoef.Std. Err.P>|t|[95% Conf. Interval]educ.0400982.00683515.870.000.0266843.0535122IQ.005914.00099675.930.000.0039579.0078701hours.0035899.0130370.280.783-.0219954.0291752hours2-.0000842.0001298-0.650.517-.0003389.0001706cons5.649044.324036317.430.0005.0131176.284971where Iwage is the natural logarithm of monthly wage in US$, educ is years of education, IQis points on an IQ intelligence test, hours is average weekly hours worked, and hours2 isexperience squared (hours * hours). Assume that MLR 1-6 hold.

Please find the explanation below. Here we should find at how many average weekly hours worked is…

At how many average weekly hours worked is the marginal effect of hours on predicted wage equal to zero? What is the exact effect (in percent) of an increase of 10 years of education on predicted wage?

At how many average weekly hours worked is the marginal effect of hours on predicted wage equal to zero? What is the exact effect (in percent) of an increase of 10 years of education on predicted wage?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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