Question

Regression Analysis: Wage versus Education, Experience,.. n, Siblings Analysis of Variance Ad SS Ad MS F-Value P-Value DF Source Regression 0.314 6 0.482427 0.080405 142 Education 1 0.018878 0.018878 033 0.579 10269598 0.269598 4.77 Experience 0.061 Аblity 1 0.003637 0003637 0.06 0.806 M. Education 1 0.118574 0.118574 2.10 0.186 1 0.000077 0.000077 10.041550 0041550 0.972 F. Education 0.00 Siblings 073 0416 8 0452266 0.056533 Error Total 14 0.934693 Model Summary S R- R-sad R-sqipred 0.237767 51.61 % 15.32% 0.00%
Give Numerical Results -- Derive The Theoretical Explanation For The Regression Results?

Answer 1

In the above regression output, The given model is - wage = Bot B, sdu + P₂ Exp + ß ability +Pq. M. Edut BsF. Edu + B6 siblings + E the goodness of fit of the model is - R² = 51.61% it 51.61% Variation in wage is explained by o the regressors ① The individual significance of ß coefficients are. Edu P-value=0.574 >0.05 not significant Exp P-value = 0.06170.05 not significant Ability P-value=0.806 2005 not significant similarly, m. Edu, F.Edu & siblings are not significant overall model P-value = 0.3147 0.05 - not significant