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{"ops":[{"insert":"Refer to the following estimation output and answer to the questions a-d.\na. Find the optimal level of experience for an academician.   \n                                              5 points                                                        \n\nb. Find the exact impact of age on the remuneration.   \n                                                             5 pts\nc. Find the differences in Y, for two fully comparable academicians with d(age)=3 years. 5 points          \nd. Interpret the results for all elements discussed so far.                                                    15 points\n\n\n***The following regression captures the remuneration one Professor gets for getting engaged in research projects and scientific activities.\n\nLog (Remuneration) = 2.301 + 0.022*Exper \u2013 0.0003*Exper + 0.016*Age + 0.14*Time_spent_Preparing&Researching \n\nP-value (Exper) = 0.011 & P-value (ExperSQ) = 0.00\nP-value (Age) = 0.81 & P-value (Time_Spent_Preparing&Researching) = 0.95\n"}]}

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