IBDP Economics 2022 _ Unit 1: Introduction to Economics

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An econometric analysis of wage determination is conducted using a sample of 114 workers from a town in India in 1990. The statistical model is such that the dependent variable is the weekly wage income in rupees (W). The explanatory variables are age (AGE) of the worker defined in years and some qualitative factors such as gender, education, and the type of job with a distinction between permanent and temporary workers. The dummy variables used to explain these qualitative factors are as follow