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3 In a sample of American Wage earners?we regress weekly wageon a constant and...

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Economics

?? 3 In a sample of American Wage earners?we regress weekly wageon a constant and a binary variable equal to 1 if the respondentwent to a private high school?and to 0 otherwise?We find that thecoefficient of the private high school variable is equal to 6.2 andis statistically significant?Is this coefficient a reliableestimate of the causal effect of attending a private high school onwages?If not?is this coefficient under or overestimating the trueeffect of attending a private high school? The coefficient likelyoverestimates the effect of attending a private high school onwages The coefficient is a reliable estimate of the effect ofattending a private high school on wages The coefficient likelyunderestimates the effect of attending a private high school onwages

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