Table 8.1 on page 284 of your textbook displays the following estimated earnings function in column (4):

\begin{aligned}\widehat { T \text { eamings } } = & 1.503 + 0.1032 \times \text { educ } - 0.451 \times \text { DFemme } + 0.0143 \times ( \text { DFemme } \times \text { educ } ) \\& ( 0.023 ) ( 0.0012 ) \quad \quad\quad\quad( 0.024 )\quad\quad\quad\quad\quad( 0.0017 )\end{aligned}

\begin{array} { c c c c c } + 0.0232 \times \text { exper } - 0.000368 \times \text { exper } 2 - 0.058 \times \text { Midwest } - 0.0098 \times \text { South } - 0.030 \times \text { West } \\( 0.0012 ) \quad\quad\quad ( 0.000023 ) \quad\quad\quad ( 0.006 ) \quad\quad\quad\quad ( 0.006 ) \quad\quad\quad\quad\quad ( 0.007 )\end{array}

n = 52.790 , \overline { \mathrm { R } } ^ { 2 } = 0.267

Given that the potential experience variable (exper)is defined as (Age-Education-6)find the age at which individuals with a high school degree (12 years of education)and with a college degree (16 years of education)have maximum earnings, holding all other factors constant.

The Following Interactions Between Binary and Continuous Variables Are Possible

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