In a regression explaining wages with the number of years of education (wage = β0 + β1educ+u), it is likely that people with more education have a wider variety of interests and job opportunities, which would lead to more wage variability at higher levels of education. People with very low levels of education have fewer opportunities and often must work at the minimum wage; this serves to reduce the wage variability at low education levels. What is the name of this problem in econometrics? How do we deal with it?
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The partnership of douglas, ryan, and ellen has dissolved and is in the process of liquidation. on july 1, 2016, just before the second cash distribution, the assets and equities of the partnership along with profit and loss sharing ratios were as follows: cash $30,000receivable - net $20,000inventories $25,000equipment - net $30,000total assets $80,000liabilities $12,000douglas, capital (20%) $28,000ryan, capital (50%) $24,000ellen, capital (30%) $16,000total liab./equity $80,000assume that the available cash is distributed immediately, except for a $2,000 contingency fund that is withheld pending complete liquidation of the partnership. how much cash should be paid to each of the partners? a. $3,200 douglas, $8,000 ryan, $4,800 ellenb. $5,600 douglas, $14,000 ryan, $8,400 ellenc. $16,000 douglas, $0 ryan, $0 ellend. $8,000 douglas, $0 ryan, $8,000 ellen
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In a regression explaining wages with the number of years of education (wage = β0 + β1educ+u), it is...
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