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Relationship between wages-age

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Suppose you have information on which of the 13 randomly selected teenage workers in the fast-food industry worked part-time and which worked 48 full-time. Variable Fi is equal to 1 if the worker is employed full-time, and it is equal to zero otherwise. With this information, you estimate the following relationship between wages, age, and full-time employment:

Wi = -0.5 + 0.25 Ai + 0.75 Fi

(.10) (.20) (the standard errors are in parentheses).

a. How much is a 20-year-old who works full-time predicted to earn based on this estimate?

b. How much is a 20-year-old who works part-time predicted to earn based on this estimate?

Reference no: EM132331971

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