Consider the following population model to explain hourly wages for individuals: \begin{array}{l} \log \left(\text { wage }_{i}\right)=\beta_{0}+\beta_{1} \text { educ }_{i}+\beta_{2} \text { exper }_{i}+\beta_{3} \text { expersq }_{i} \\

+\beta_{4} \text { femal }_{e_{i}}+\beta_{5} \text { married }_{i}+u_{i} \text { (1) } \end{array} where female i =lif individual i declares as female,O otherwise;married i = lif individual i declares as married, O otherwise, and expersq = exper2, with ezperi =the individual's years of experience working. This model implies that an increase in exper of 5 years results in an average change in wage of approximately 500(B+2P3erper:)%, ceteris parībus, so that the percentage change in wage differs for each individual, dependent on each individual's years of experience. O True O False