11(2). Suppose that the estimated equation in 11(1) is as fo…

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11(2). Suppоse thаt the estimаted equаtiоn in 11(1) is as fоllows:  beta1 = 0.047, beta2 = 0.00078, beta3 = 0.019, beta4 = 0.01 Both of person A’s parents have a college education, so pareduc = 32 (the total number of schooling years of her parents). Both of person B’s parents have a high school education, so, pareduc = 24. What is the difference in the estimated return to education holding other factors fixed?

11(2). Suppоse thаt the estimаted equаtiоn in 11(1) is as fоllows:  beta1 = 0.047, beta2 = 0.00078, beta3 = 0.019, beta4 = 0.01 Both of person A’s parents have a college education, so pareduc = 32 (the total number of schooling years of her parents). Both of person B’s parents have a high school education, so, pareduc = 24. What is the difference in the estimated return to education holding other factors fixed?

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