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III- (15pts) You are given the following economic model 0.013 -$26 Rsquare- 0.4177 0.0012ten (0.00024 log(wage) 0.478 + 0.085edu + 0.059ten-0.058/emale-0.01 ledu.female-0.02 1/emale./en- Std errors (0.113) (0.008) (0.007) (0.174) (0.006 With all the variables described as follows: log(wage) -log of average hourly wage; female is a dummy variable equal to 1 if the observed person is a female, and O if make; edu female is an interaction variable equal to education'female; edu is the number of years of schooling; ten is the number of years of tenure fernale. ten is an interaction variable equal tofernale *ten entenure tenure a. Is the parameter of the variable ten 2 statistically significant at 5%? (1pt) b. Provide a possible reason for the presence of the variable ten in the model estimated above (1pt) c. What is the estimated return to an additional tenure year for a female worker? For a mak worker? (2pts) (2pts) male's wage. (2pts). coefficient associated to the following variables: female, education, and female.edu? (3pts) d. What is the optimal number of tenure years for a femake worker? For a male worker? e. Cakulate the estimated effect of the 10h year of tenure on a female's wage, and on a f. From the estimated equation above, provide an appropriate interpretation for each g. Is education more valuable for make or for female workers? What about tenure? (1 pt) h. If a male and a femake have 10 years of tenure each, how many years of education would t take for their wages to be the same? (1pt) In order to text whether gender does siunifcantly affect the wage earned by workers, the following restricted model has been estimated. log(wage)-0.369+ 0.08sedu+ 0.05 Yen-0.0010e Std errors (0.090) (0.007) (0.007) (0.00024 n526 R-square 0.3294 ges State clearly your null and alternative hypothesis, and explain the implications of your test conclusion. (2pts) i. At 596, text whether the gender is a statistically significant in explaining workers' wa

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