8. (a) Generate a dummy (proxy) variable, age50, which is equal to one if the head of the household is aged 50 or over and is equal to zero otherwise. In what proportion of households is the head aged 50 or over? (b) Add the variables age50 and age50 x line to the MLR model in the previous question. Are the coefficients on these two variables individually and jointly statistically signifi- cant?

Fig: 1