Suppose you are interested in studying the factors that influence wages. You plan on using a multiple regression model with k=3 explanatory variables. In particular, you plan on estimating: wageˆ=β0ˆ+β1ˆeduc+β2ˆexper+β3ˆage where wage = hourly wage in dollars educ = years of education exper = years of work experience age = age, in years An alternative way of estimating β3ˆ would be to regress wage on ri3ˆ, (wagei=β0+β1ri3ˆ), where ri3ˆ are the residuals from a regression of . Suppose the following represents a simple regression model of wage on educ. wage∼=β0∼+β1∼educ where wage = hourly wage in dollars educ = years of education True or False: If the partial effects of exper on wage and age on wage are both zero, then β1ˆ will not be the same as β1∼. True False1ˆx1+⋅ ⋅ ⋅+βkˆxk Writing the OLS regression line in terms of changes yields . Suppose that Δx2 through Δxk are all equal to zero. Then the change in the explained variable yˆ can be written as .