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Functional forms involving logarithms The graduate record exam (GRE) is an exam most students must take to apply to graduate schools. Suppose you are interested in studying the effects of time spent studying for the GRE on the score of the math section of the test. You propose the following model: score = beta_ o + beta_1 log (study) where Score = score on the math section of the GRE study time spent studying for the math section of the GRE, in hours Based on the functional form of your simple OLS model, your model would best be classified as a model Suppose you estimate the model using OLS with the following results: score 500+20log(study) Given the functional form of your model, which of the following is true regarding the interpretation of beta_1?

For a 1 percentage increase in hours spent studying, the predicted exam score rises by 0.2 percentage
For a 1 hour increase in time spent studying, the predicted exam score rises by 0.2 percentage.
For a 1 percentage increase in hours spent studying, the predicted exam score rises by 0.2 points.
For a 1 hour increase in time spent studying, the predicted exam score rises by 0.2 points.

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Functional forms involving logarithms The graduate record exam (GRE) is an exam most students must t...

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