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 here are differences in the Wages of Males compared to Females.  The Senior Consultant feels, though that the differences Wages could be explained by differences in Education (Years of Schooling) or years of experience between the genders. John Thomas believes though that the differences are due to pure discrimination. To get an initial feel, you have collected the data in the file named WAGE_DATA. This file contains information such as the Wages, Years of Schooling, Union Affiliation, Ethnicity, etc.  Test the hypothesis that there is no difference between the wages of Males compared to Females Test the hypothesis that there is no difference between the Educational Experiences of Males compared to Females Do a Regression Analysis using Wages as Dependent Variable (Y) and Years of Experience as Independent Variable (X): Calculate Slope and Interpret the meaning of the slope and Intercept of the regression line. Do a Regression Analysis using Wages as Dependent Variable (Y) and Years of Education as Independent Variable (X): Calculate Slope and Interpret the meaning of the slope and Intercept of the regression line Prepare a Table summarizing your regression results including Coefficients of Determination and explain the differences in regression slopes

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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 here are differences in the Wages of Males compared to Females.  The Senior Consultant feels, though that the differences Wages could be explained by differences in Education (Years of Schooling) or years of experience between the genders. John Thomas believes though that the differences are due to pure discrimination.

To get an initial feel, you have collected the data in the file named WAGE_DATA. This file contains information such as the Wages, Years of Schooling, Union Affiliation, Ethnicity, etc. 

  1. Test the hypothesis that there is no difference between the wages of Males compared to Females
  2. Test the hypothesis that there is no difference between the Educational Experiences of Males compared to Females
  3. Do a Regression Analysis using Wages as Dependent Variable (Y) and Years of Experience as Independent Variable (X): Calculate Slope and Interpret the meaning of the slope and Intercept of the regression line.
  4. Do a Regression Analysis using Wages as Dependent Variable (Y) and Years of Education as Independent Variable (X): Calculate Slope and Interpret the meaning of the slope and Intercept of the regression line
  5. Prepare a Table summarizing your regression results including Coefficients of Determination and explain the differences in regression slopes
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