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# Regression analysis Wages and Wage Earners Data Set

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Please see attachment and help me explain the regression analysis and scatter plot.

I ran this regression analysis. My hypothesis is that there is a positive linear relationship between years of education and salary. I used the following data set for this. (see attachment) Table 1: Wages and Wage Earners Data Set

I NEED to be able to explain the analysis in simple words. I believe that it shows a positive linear relationship. Also help me explain the scatter plot below (see attachment).

Regression Analysis

r² 0.167 n 100
r 0.408 k 1
Std. Error 15550.444 Dep. Var. Wage

ANOVA table
Source SS df MS F p-value
Regression 4,735,209,494.9482 1 4,735,209,494.9482 19.58 2.50E-05
Residual 23,697,996,987.8918 98 241,816,295.7948
Total 28,433,206,482.8400 99

Regression output confidence interval
variables coefficients std. error t (df=98) p-value 95% lower 95% upper
Intercept -699.9501 7,293.6714 -0.096 .9237 -15,174.0032 13,774.1031
Ed 2,477.0943 559.7779 4.425 2.50E-05 1,366.2334 3,587.9552