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A researcher interviews 50 employees of a large manufacturer and collects data on each workers hourly wage (Wage), years of

c. Interpret the coefficient of EDUC For a 1 year increase in higher education, wage is predicted to increase by $1.44/hour.

please answer this question subject about Business Statistics thanks

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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 37.85 21.72 EXPER 40 4 24.18 64 Xc a. Estimate: Wage-60-81EDUC + 62EXPER + 63AGE + E. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) Wage- AGE EDUC+ EXPER + b. Are the signs as expected? Is the sign expected? Coefficients EDUC EXPER AGE
c. Interpret the coefficient of EDUC For a 1 year increase in higher education, wage is predicted to increase by $1.44/hour. 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. 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
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EXCEL outputSUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.585123024 0.34236895Is the sign expected? Yes Yes No Coefficients EDUC EXPER AGE Fora ar icrease g epxeriene and age constant. wage is predictedWagê 7.8730+1.4371EDUC+0.4483EXPER+(-0.0114) AGE -7.8730+1.4371 (5)+0.4483 (8)+(-0.0114) (40) -7.8730+7.1855 +3.8664-0.456 -1

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