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Suppose that Degree is a categorical variable used to describe people's degree type (Science, Humanities, Engineering) and Level is the highest degree earned (Bachelor's, Master's,
Suppose that "Degree" is a categorical variable used to describe people's degree type (Science, Humanities, Engineering) and "Level" is the highest degree earned (Bachelor's, Master's, Ph.D.). We fit a model predicting "Salary" for graduate's salary after a certain number of "Years" years on the job. The model uses "Degree", "Level" and an interaction between "Degree" and "Years". Which of the following are correct? The fitted model will be such that the estimated annual raise is the same for all employees. The fitted model will be such that the estimated annual raise will be different for people who studied Physics compared to those who studied English. The estimated starting salary will be different for students who complete a Master's in Statistics compared to a Ph.D. in Statistics. The fitted model will be such that the estimated annual raise will be different for people who completed a Master's degree compared to those who completed a Bachelor's degree, all else being equal. unanswered
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