5) The following results are from data where the dependent variable is SALARY, the independent variables are AGE, EDUCATION, and FEMALE which is a dummy variable = 1 for females and = 0 for males. e) What is the null and alternative hypothesis that Excel is testing in reporting the t-stats above? f) Is the regression equation as a whole significant at the 1% level of significance? How do you know? g) What is the effect on the income of a person being a female versus male? h) Is there a significant amount of evidence (say at the 10% level of significance) that an additional year of education increases income by more than $2000? Be sure to state your null and alternative hypotheses, calculate your test statistic, and find the critical value.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.3: Measures Of Spread
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5) The following results are from data where the dependent variable is SALARY, the independent variables are AGE, EDUCATION, and FEMALE which is a dummy variable = 1 for females and = 0 for males. e) What is the null and alternative hypothesis that Excel is testing in reporting the t-stats above? f) Is the regression equation as a whole significant at the 1% level of significance? How do you know? g) What is the effect on the income of a person being a female versus male? h) Is there a significant amount of evidence (say at the 10% level of significance) that an additional year of education increases income by more than $2000? Be sure to state your null and alternative hypotheses, calculate your test statistic, and find the critical value.
5) The following results are from data where the dependent variable is SALARY, the independent
variables are AGE, EDUCATION, and FEMALE which is a dummy variable 1 for females and 0
for males.
a) Complete the results
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
Standard Error
Observations
827
ANOVA
df
SS
MS
Significance F
Regression
75305189884
3.20592-36
Residual
332444000000
Total
Coefficients
Standard Eror
t Stat
Pvalue
Lower 95%
Upper 95%
-16633.8
689.5
Intercept
-26599.5
5077.2
-5.24
2.052E-07
-36565.2
AGE
520.2
863
6.03
2.469E-09
350.9
EDUCATION
2493.8
216.1
11.54
1.135E-28
0.0022962
FEMALE
4669.2
1526.6
-7665,7
-1672.7
Based on the regression results:
a) What is the estimated regression equation?
Transcribed Image Text:5) The following results are from data where the dependent variable is SALARY, the independent variables are AGE, EDUCATION, and FEMALE which is a dummy variable 1 for females and 0 for males. a) Complete the results SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 827 ANOVA df SS MS Significance F Regression 75305189884 3.20592-36 Residual 332444000000 Total Coefficients Standard Eror t Stat Pvalue Lower 95% Upper 95% -16633.8 689.5 Intercept -26599.5 5077.2 -5.24 2.052E-07 -36565.2 AGE 520.2 863 6.03 2.469E-09 350.9 EDUCATION 2493.8 216.1 11.54 1.135E-28 0.0022962 FEMALE 4669.2 1526.6 -7665,7 -1672.7 Based on the regression results: a) What is the estimated regression equation?
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