How should the slope estimate of the following regression be interpreted (where wage is hourly wage and educexp is household average annual expenditure on education)? ln(wage)=11.4+8.13ln(educexp) A. When education expenditure increases by 1%, on average, hourly wages increase by 8.13 units. B. When education expenditure increases by 1 unit, on average, hourly wages increase by 8.13 units. C. When education expenditure increases by 1 unit, on average, hourly wages increase by 8.13%. D. When education expenditure increases by 1%, on average, hourly wages increase by 8.13% E. When education expenditure increases by 1, on average, hourly wages increase by 8.13.
How should the slope estimate of the following regression be interpreted (where wage is hourly wage and educexp is household average annual expenditure on education)? ln(wage)=11.4+8.13ln(educexp) A. When education expenditure increases by 1%, on average, hourly wages increase by 8.13 units. B. When education expenditure increases by 1 unit, on average, hourly wages increase by 8.13 units. C. When education expenditure increases by 1 unit, on average, hourly wages increase by 8.13%. D. When education expenditure increases by 1%, on average, hourly wages increase by 8.13% E. When education expenditure increases by 1, on average, hourly wages increase by 8.13.
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How should the slope estimate of the following regression be interpreted (where wage is hourly wage and educexp is household average annual expenditure on education)?
ln(wage)=11.4+8.13ln(educexp)
A. When education expenditure increases by 1%, on average, hourly wages increase by 8.13 units.
B. When education expenditure increases by 1 unit, on average, hourly wages increase by 8.13 units.
C. When education expenditure increases by 1 unit, on average, hourly wages increase by 8.13%.
D. When education expenditure increases by 1%, on average, hourly wages increase by 8.13%
E. When education expenditure increases by 1, on average, hourly wages increase by 8.13.
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