See attached data file.
Using numerical data from the data set attached, develop one research question and formulate a hypothesis which can be tested with linear regression analysis.
Complete and describe the results of the linear regression analysis on the collected data. Be sure to include the following:
i. Use the hypothesis statement below:
The hypothesis would be that the effect of education on wages is greater than the effect of work experience (greater positive slope), or that the correlation between wages and education is greater than the correlation between wages and work experience (less variance).
ii. Perform a regression hypothesis test on the data.
iii. Interpret the results of your regression hypothesis test.
Be sure to include your raw data tables and the results of your computations, using both graphical and tabular methods of displaying data and results.
Legend for Attached Data Set:
X1: Annual wage in dollars
X2: Industry (1=manufacturing, 2=construction, 0=other)
X3: Occupation (1=management, 2=sales, 3=clerical, 4=service, 5=professional, 0=other)
X4: Years of education
X5: Southern resident (0=no, 1=yes)
X6: Nonwhite (0=no, 1=yes)
X7: Hispanic (0=no, 1=yes)
X8: Female (0=no, 1=yes)
X9: Years of work experience
X10: Married (0=no, 1=yes)
X11: Age in years
X12: Union member (0=no, 1=yes)
A Complete, Neat and Step-by-step Solution is provided in the attached Excel file.