Question
Consider the following regression equation: P ay = 0.45 + 0.035Exper + 0.09Star + 0.3Gender Where Pay is the payment of athletes in millions of
Consider the following regression equation: P ay = 0.45 + 0.035Exper + 0.09Star + 0.3Gender
Where Pay is the payment of athletes in millions of dollars, exper is the number of years of experience, Star is a dummy equal to 1 if he/she is a star player, and Gender is a dummy which equal to 1 if the individual is male.
(a) If I decrease experience by 1 year, pay increases by 0.035 dollars.
(b) If I increase experience by 1 year, pay increases by 35,000 dollars.
(c) If I increase experience by 1 year, pay increases by 3.5 million dollars.
(d) If I increase experience by 1 year, pay increases by 0.035 dollars.
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