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Regression equation to predict the dependent variable using multiple regression analysis:
An expert witness in a case of alleged racial discrimination in a state university school of nursing introduced a regression of the determinants of Salary of each professor for each year during an 8-year period (n = 423) with the following results, with dependent variable Year (year in which the salary was observed) and predictors Year Hire(year when the individual was hired), Race (1 if individual is black, 0 otherwise), and Rank (1 if individual is an assistant professor, 0 otherwise). Interpret these results.
Variable
Coefficient
t
p
Intercept
-3,816,521
-29.4
.000
Year
1,948
29.8
Year Hire
-826
-5.5
Race
-2,093
-4.3
Rank
-6,438
-22.3
R2 = 0.811
R2adj = 0.809
s = 3,318
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