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A multiple regression analysis to assess the effects of age and wage ($/hr) on productivity units produced the following output: Coefficient Standard Error t-stat p-value
A multiple regression analysis to assess the effects of age and wage ($/hr) on productivity units produced the following output: Coefficient Standard Error t-stat p-value Intercept 25.005 7.727 3.236 0.0042 Age 1.666 0.364 4.583 0.0002 Wage -1.000 0.317 -3.157 0.005 a) Estimate the productivity units for a 48-year-old earning $34/hr. Round to the nearest whole number. b) Which of the following best interprets the regression coefficient for Age? O For each additional productivity unit, age on average increases by 1.666 assuming wage is held constant. O For each additional year in age, productivity units on average increase by 1.666 assuming wage is held constant. O For each additional year in age, wage on average decreases by -1 assuming productivity is held constant. O For each additional dollar in wage, age increases by 1.666, on average, assuming productivity is held constant
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