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The Following Tools from Multiple Regression Analysis Carry Over in a Meaningful

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Short Answer

The following tools from multiple regression analysis carry over in a meaningful manner to the linear probability model, with the exception of the a. FF -statistic.
b. significance test using the tt -statistic.
c. 95%95 \% confidence interval using ±1.96\pm 1.96 times the standard error.
d. regression R2R ^ { 2 } .

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Definitions:

Real Wage

The wage adjusted for inflation, representing the purchasing power of the wage.

Nominal Wage

The wage paid to employees in current dollars, not adjusted for inflation, representing the face value of earned income.

Economic Income

The total value of all income received by an individual or entity, including both earned income and investment income.

Human Capital

The skills, knowledge, and experience possessed by an individual viewed in terms of their value or cost to an organization or country.

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