This regression is on 1744 individuals and the relationship between their weekly earnings (in dollars) and age (in year) during 2019. The regression yielded the following result:

earn= 239.16 + 5.20 Age,R2= 0.05,SER= 287.21.,

(a) Interpret the coefficient results.

(b) Is the effect of age on earnings large? (Assume that people work 52 weeks in a year)

(c) Why should age matter in the determination of earnings? Do the results suggest that there is a guarantee for earnings to rise for everyone as they become older? Do you think that the relationship between age and earnings is linear? Explain.

(d) The average age in this sample is 37.5 years. What is annual income in the sample?

(e) Interpret the measures of fit.