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Question: note log and ln both denote the natural logarithm the...

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Note: “Log” and “Ln both denote the natural logarithm 

The following regression is used to determine the annual savings of individuals on the basis of income and education: 

 

Annual_savings = β0 + β1*college_education + β2* income +u 

 

Edu takes on the value of 1 if the person has a college degree, otherwise zero. What can you say about the impact of education if β1 >0?

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