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OLS Regression

Comment briefly what these two boxplots reveal:

Dependent variable: log (w) w: wage (earnings per hour)
Independent variables: female, union member, non-white, years of schooling, years of experience, experience squared.

*(Please see attachment for graphs)


Solution Preview

We find that the boxplots of OLS residuals by Schooling level is fine. The variance of the residual term is normally ...