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    Linear Regression of Wages and College Degree

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    If my dependent variable (Y) is wages
    If my independent variable (X) is a 2-yr. degree versus a 4-yr. degree
    Can you help me with a linear regression analysis if I have wages representing a 2 and 4 year degree?
    Those wages being: 2 yr. degree, $11,702, $24,509, $35,185, $34,746
    Wages for a 4 yr. degree, $29,997, $33,959, $22,133, $30,006, $83,443, $33,351, $31,304
    If a linear regression cannot be performed with the data above, please explain what is missing.
    Thank you.

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    Solution Preview

    Linear regression is performed between two sets of data which is reported one to one, i.e., if there are n number of independent variable values ...

    Solution Summary

    This solution explains the conditions for a linear regression and the relationship between an independent and dependent variable. It also conducts a linear regression with the data on wages and college degrees including a graph, full workings and formulas in an Excel file.