Question

What R code do I use to solve this?

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
14.34,4,2,38,0
21.26,5,9,53,1
24.65,6,15,59,1
25.65,6,12,36,1
15.45,9,5,45,0
20.39,4,12,37,0
29.13,5,14,37,1
27.33,11,3,43,1
18.02,8,5,32,0
20.39,9,18,40,1
24.18,7,1,49,1
17.29,4,10,43,0
15.61,1,9,31,0
35.07,9,22,45,0
40.33,11,3,31,1
20.39,4,14,55,0
16.61,6,5,30,1
16.33,9,3,28,0
23.15,6,15,60,1
20.39,4,13,32,0
14.88,4,9,58,1
13.88,5,4,28,0
17.65,6,5,40,1
15.45,6,2,37,0
26.35,4,18,52,1
19.15,6,4,44,0
16.61,6,4,57,0
18.39,9,3,30,1
15.45,5,8,43,0
18.02,7,6,31,1
13.44,4,3,33,0
17.66,6,23,51,1
16.96,4,15,37,0
14.34,4,9,45,0
15.45,6,3,55,0
17.43,5,14,57,0
35.89,9,16,36,1
20.39,4,20,60,1
11.81,4,5,35,0
15.45,9,10,34,0
17.66,5,4,28,1
13.87,6,1,25,0
16.35,7,10,43,1
15.45,9,2,42,1
23.67,4,17,47,0
16.02,11,2,46,1
23.15,4,15,52,0
24.18,8,11,64,0

a. Estimate: Wage = β₀ + β₁EDUC + β₂EXPER + β₃AGE + ε. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)

b. Are the signs as expected?
EDUC?

EXPER?

AGE?

Answer 1

Answer: y=wage, X1=EDUC, X2=EXPER, X3=AGE

R code:-

Fit=lm(y~X1+X2+X3)

Fit

summary(Fit)

From summary we get intercept , slope coefficients.