Solution-Impact of experience on wages

Impact of experience on wages

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Reference no: EM13678765

A local company is accused of both sex and age discrimination. Data was collected for 71 employees on Salary, Gender (females = 1), age of the employee, Training (yes = 1), and years of experience. Assume there are no outliers in the data.

Equation #1

Salary = b0 + b1*Gender + b2*Age + b3*Trained + b4*Experience + b5*Experience²

a) Test the following hypotheses with a Type I error of 5%.

H₀ : β₁ = 0

H_a : β₁ ≠ 0

What does this hypothesis test tell us?

b) Based on your estimate of Equation #1, does experience have an impact on wages?

c) Can you improve upon this model? If yes, what does your new model tell you about the impact of experience on wages?

Reference no: EM13678765

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Impact of experience on wages

Reference no: EM13678765

Reference no: EM13678765

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