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Need help with the excel formula for Regression, please. The consultants at Hayward Management Consulting Group are discussing the factors that explain differences in wages

Need help with the excel formula for Regression, please.

The consultants at Hayward Management Consulting Group are discussing the factors that explain differences in wages in a company. Specifically, they are interested in explaining if there are differences in the Wages of Males compared to Females. The Senior Consultant feels, though that the differences in Wages could be explained by differences in Education (Years of Schooling) between the genders. John Thomas believes though that the differences are due to pure discrimination

  1. Prepare a Regression Analysis using Wages as Dependent Variable (Y) and Years of Experience as Independent Variable (X): Calculate Slope and Test a hypothesis whether there is a significant relationship between Wages and Years of Experience
  2. Prepare a Regression Analysis using Wages as Dependent Variable (Y) and Years of Education as Independent Variable (X): Calculate Slope and Test a hypothesis whether there is a significant relationship between Wages and Years of Education
  3. Prepare a Table summarizing your regression results including Coefficients of Determination, and T statistics, and explain the differences in regression slopes
  4. Does your Regression Result contradict your Conclusion in Problems #1 and #2?
  5. X8 Female 0, Male 1
  6. image text in transcribed

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