(Answered) Cnsider the following regression equation wage -3725

Statistics

Consider the following regression equation:

WAGE = -37.25 + 3.85*EDUCATION

where WAGE is the hourly wage in dollars, and EDUCATION is the number of years of education. Interpret the slope.

A. For every additional year of education, the hourly wage will increase by $3.85.

B. For every additional $1 in wages, a person's education will increase by 3.85 years.

C. For every additional year of education, the hourly wage will decrease by $3.85.

D. A person with 1 year of education is predicted to earn $3.85.

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