A Model Is Based on an Assumption That an Additional

question 83

Multiple Choice

A model is based on an assumption that an additional year of education increases a student's future wage by 20 percent.
-Refer to the scenario above.Which of the following statements is true about the model's prediction?

• A) The prediction cannot be verified empirically.
• B) The prediction is precise, exact, and accurate for the entire population.
• C) The prediction is an approximate relationship and may not hold for everyone.
• D) The prediction can be applied to estimate the returns only for a limited number of years of additional education.

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