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A regression of income on years of experience is performed using a sample of people who work in not for profits.
A regression of income on years of experience is performed using a sample of people who work in not for profits. Income is measured in thousands of dollars, and experience is measured in years of experience.
A. What units is the slope coefficient (the coefficient of years of experience) in?
B. If the slope coefficient had the value of 0.85, what would that tell you?
C. If the p value associated with the slope coefficient were .03, what would that tell you? Make sure to include the null and alternative hypotheses being tested as part of your explanation. Make sure that you explain the number .03 actually tells you.
