Hi there, I am currently trying to describe the relationship between wage and education using the regression equation:
𝑊𝑎𝑔𝑒 = 𝛽0 + 𝛽1 𝐸𝑑𝑢𝑐𝑎𝑡𝑖𝑜𝑛 + 𝛽2 𝐸𝑑𝑢𝑐𝑎𝑡𝑜𝑛^2 + 𝑢𝑖
Wage represents the wages of an individual, and education is the years of education.
I need to find the predicted wage of 12 years of schooling, as well as 16 years of schooling. I also need to find the marginal effect of the education^2 variable. How would I do this? Thank you.
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