In the US ,Each Additional Year of Schooling Has Historically Raised a Raised

question 155

Multiple Choice

In the U.S. ,each additional year of schooling has historically raised a person's wage on average by about

• A)5 percent.In less developed countries the gap between the wages of educated and uneducated workers is smaller.
• B)10 percent.In less developed countries the gap between the wages of educated and uneducated workers is smaller.
• C)5 percent.In less developed countries the gap between the wages of educated and uneducated workers is larger.
• D)10 percent.In less developed countries the gap between the wages of educated and uneducated workers is larger.

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Definitions:

Formula

A symbolic representation of a principle or a set of mathematical relations, often used to solve problems or to define scientific laws.

Z Test Statistic

A statistic that measures the difference between the observed value and the hypothesized population mean in units of the standard deviation.

Null Hypothesis

Refers to a statement or assumption that there is no difference or effect, used as a starting point for statistical testing to be challenged by the alternative hypothesis.

Level Of Significance

The threshold used in statistical tests to decide whether an observed effect is considered statistically significant.