Answer to Question #167198 in Finance for teadora

Question #167198

Refer to the following estimation output and answer to the questions a-d.

a. Find the optimal level of experience for an academician.

5 points

b. Find the exact impact of age on the remuneration.

5 pts

c. Find the differences in Y, for two fully comparable academicians with d(age)=3 years. 5 points

d. Interpret the results for all elements discussed so far. 15 points

***The following regression captures the remuneration one Professor gets for getting engaged in research projects and scientific activities.

Log (Remuneration) = 2.301 + 0.022*Exper – 0.0003*Exper + 0.016*Age + 0.14*Time_spent_Preparing&Researching

P-value (Exper) = 0.011 & P-value (ExperSQ) = 0.00

P-value (Age) = 0.81 & P-value (Time_Spent_Preparing&Researching) = 0.95

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