Reading your book, I found a useful log transformation to get a percentage (see np.log(hwage) ~ educ). Still, this approximation trick does not work for big percentage changes. It would be helpful for the unprepared reader to note that it is important to perform hwage=wage["wage"]/wage["hours"] transformation before estimating the percentage.
Reading your book, I found a useful log transformation to get a percentage (see
np.log(hwage) ~ educ
). Still, this approximation trick does not work for big percentage changes. It would be helpful for the unprepared reader to note that it is important to performhwage=wage["wage"]/wage["hours"]
transformation before estimating the percentage.