The Graduate Record Exam (GRE) is an exam most students must take to apply to graduate schools. Suppose you are interested in studying the effects of time spent studying for the GRE on the score of the math section of the test. You propose the following model: log (score) = Bo + Blog (study) where score = score on the math section of the GRE study -time spent studying for the math section of the GRE, in hours Based on the functional form of your simple OLS model, your model would best be classified as a model. log-level Suppose you estimate the model using OLS, with the following results: level-log log-log log (score) = 10+ 0.33 log (study) level-level Given the functional form of your model, which of the following is true regarding the interpretation of Bi? O For a 1% increase in hours spent studying, the predicted exam score rises by 0.33 points. O For a 1-hour increase in time spent studying, the predicted exam score rises by 0.33%. O For a 1% increase in hours spent studying, the predicted exam score rises by 0.33%. O For a 1-hour increase in time spent studying, the predicted exam score rises by 0.33 points.
