Suppose you are interested in studying the determinants of wages. You plan to use the following model: wage=β0+β1educ+β2exper+u where wage = annual salary, in thousands of dollars educ = years of education expert = years of work experience You run the regression, and obtain the following results: wageˆ=12+1.1 educ+1.5 expert n300 R2 = 0.07 The predicted wage for an individual with 12 years of education and 5 years of experience is . The predicted wage for an individual with the same years of education but one additional year of work experience (that is, 6 years) is . The marginal effect of one extra year of work experience is . The R2 of this regression indicates that % of the variation in wage is explained by educ and exper together. Suppose you suspect that wages might be affected by the weight of each individual, either through discrimination based on weight by employers or decreased productivity, and therefore wages, brought on by an unhealthy weight. You decide to include body mass index (BMI) as a third explanatory variable to your regression. True
False:
Assuming you use the exact same data set as before, adding the explanatory variable bmi will always decrease the R2.
True
False"

Imagine us is a startup that offers high definition 3d prenatal ultrasounds for high-end customers. the service process includes four activities that are conducted in the sequence described below. (the time required for each activity is shown in parentheses): activity 1: welcome a patient and explain the procedure. (20 minutes)activity 2: prep the patient (e.g., show them to the room, apply ultrasound gel). (17 minutes) (*your id number represents the amount of time needed to complete this task)activity 3: take images. (5 minutes)activity 4: discuss diagnostic with patient. (20 minutes)at each location there are employees (servers) s1, s2, and s3. the assignment of tasks to servers is the following: s1 does activities 1 and 2.s2 does activity 3.s3 does activity 4.a. what is the capacity of this process (in customers per hour)? b. suppose 3 patients arrive every hour on average. ignoring any “start of day” or “end of day” effects, what are the utilizations of all three servers (%)? c. suppose each activity can be done by any server and any server can do any set of activities. however, each activity is done by only one server. for example, a possible assignment includes: s1 does activity 1, s2 does activity 2, and s3 does activities 3 and 4. of course, the original assignment of servers to activities is also feasible. what is the maximum capacity of the process (in customers per hour)? d. now consider the capacity measures in (c) and (a), what is the percentage change? why can you improve capacity without using additional resources? (there is no free lunch, right? )note: for all hw assignments, show your process of getting the results. only providing the final answers is not acceptable and will get 0%. if necessary, use a separate sheet of paper to show your work.