Question

A researcher interviews 50 employees of a large manufacturer and collects data on each worker’s hourly wage (Wage), years of higher education (EDUC), experience (EXPER), and age (AGE).

Wage	EDUC	EXPER	AGE	Male
37.85	11	2	40	1
21.72	4	1	39	0
⋮	⋮	⋮	⋮	⋮
24.18	8	11	64	0

A researcher interviews 50 employees of a large manufacturer and collects data on each worker's hourly wage (Wage), years of higher education (EDUC), experience (EXPER), and age (AGE). Wage EDUC EXPER AGE Male 37.85 21.72 40 4 24.18 64 &Click here for the Excel Data File a. Estimate: Wage-60 + to 2 decimal places.) EDUC+ 62EXPER + 63AGE + ε. (Negative values should be indicated by a minus sign. Round your answers Wage- EDUC + EXPER + AGE b. Are the signs as expected? Coefficients EDUC EXPER AGE Is the sign expected? c. Interpret the coefficient of EDUC. For a 1 year increase in higher education, wage is predicted to increase by $1.44/hour holding experience and age constant. For a 1 year increase in higher education, wage is predicted to increase by $1.44/hour holding higher education, experience and age constant. For a 1year increase in higher education, wage is predicted to increase by $1.44/hour. d. Interpret the coefficient of determination. O 34.24% of the sample variation in wage is explained by the estimated regression model O 25.24% of the sample variation in Age is explained by the estimated regression model. O 25.24% of the sample variation in wage is explained by the estimated regression model. O 34.24% of the sample variation in Experience is explained by the estimated regression model. e. Predict the hourly wage of a 40-year-old employee who has 5 years of higher education and 8 years of experience. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.) Hourly Wage o PE 21-23 15 12 5 12 14 3 5 15-10-9 22 3 14 53 15 13 345-18-443 33 14 16 20 5 10 41 10 2 17 2 15 11 53 23 11 4 4 5 6 5 9 4-5 11 8 9 7 4 1 9-11 4 5 9 6 4 4 5 6 6 4 5 6 9 5 7 4 5 4 4 6 5 9 4 4 9 5 5 7 94-11 48 72 34 26 65 65 45 39-13 02 39-15 29 07-3 61 83-15 G 65 45-35 37-21 14 21 24 25 20 29 27 15 20 24-17 15 35 40 20 15 23 20 14 13 17 15 26 61 3 5 2 4 5 9 4 4 4 89 39-01 56 35 45 67 02-15 16-15 13 17-15 14 15 35 20 15-17 13 15 23-16,

Answer 1

es eb es EDUC Ex pep AG E opHon① Corect pouly to ge 8.69ヶ),23(5) +0,42(8)-0.02(40 1 8.11