2: What is the correlation (r ) between the two variables? Is the correlation st

Question

2: What is the correlation (r ) between the two variables? Is the correlation statistically significant?

For the following multiple regression output, answer the following questions below.

2: What is the correlation (r) between the two variables? Is the correlation statistically significant? For the following multiple regression output, answer the following questions below Hourly wage Years of Education Year of Experience x2 Gender: 0 = female, 1 = males = x3 SUMMARY OUTPUT Regression Statistics MultipleR R Square Adjusted R Square Standard Error Observations 0.6065 0.3678 0.3266 5.3068 50 ANOVA Significance sS MS Regression Residual Total 753.714 251.238 8.921 0.00009 46 1295.465 28.162 49 2049.179 Standard Upper 95% Coefficients 7.985 1.236 0.404 2.264 P-value 2.701 2.956 0.0049 0.363 3.402 0.0014 0.130 3.112 0.0032 1.368 0.1780 Error tStat Lower 95% Intercept Yrs of education Yrs of experience Gender 2.548 13.423 0.505 0.143 1.068 1.967 0.665 5.595 1.655

Explanation / Answer

Answer:

2: What is the correlation (r ) between the two variables? Is the correlation statistically significant?

For the following multiple regression output, answer the following questions below.

Multiple R is the coefficient of multiple correlation.

Correlation between hourly wages and linear combination of years of education, year of experience and gender is 0.6065

The correlation is significant, F=8.921, P=0.00009 which is < 0.05 level.

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