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{"ops":[{"insert":"Use the uploaded dataset titled \u2018ceosal2\u2019 to model the relationship between company\u2019s CEO salary and sales. The variables are defined as the following: Y = CEO\u2019s salary, in thousands of dollars X1 = firm sales, in millions of dollars X2 = company\u2019s market value, in millions of dollars X3 = years of tenure as CEO with the company Now, consider the following model specifications: \ud835\udc59\ud835\udc5b \ud835\udc4c = \ud835\udefc0 + \ud835\udefc1\ud835\udc59\ud835\udc5b\ud835\udc4b1 + \ud835\udc62 (1) l\nn \ud835\udc4c = \ud835\udefd0 + \ud835\udefd1\ud835\udc59\ud835\udc5b\ud835\udc4b1 + \ud835\udefd2\ud835\udc59\ud835\udc5b\ud835\udc4b2 + \ud835\udefd3\ud835\udc4b3 + \ud835\udc63 (2)\nThe basic specification (equation 1) tests the effect of firm sales on CEO\u2019s salary (both in logarithmic form). The basic model can be extended to include logarithm of firm market value and CEO\u2019s tenure with the company that are expected to increase CEO\u2019s salary. \n\na. Estimate both equations and present in tabular format without using outreg2. Include columns for standard errors and t-statistics.\n"}]}

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