Consider the following estimated regressions: log(wage) - 1 0.05union wage = 30

Consider the following estimated regressions: log(wage) - 1 0.05union wage = 30 + 10union union- 0.2 + 0.05iq union - 0.2 + 0.05log(iq) log(wage) 10.93 log(educ) 0.04exper-0.0006exper2 0.17female - 0.011female * exper where, wage is in dollars per hour, union is a dummy variable that takes 1 when the worker is unionized, iq is in points, education and experience are in years and female is another binary variables that takes the 1 when the worker is female