Solved: Analyze a linear regression model to annual salaries, Basic Statistics

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Analyze a linear regression model to annual salaries

Assignment:

You built a linear regression model to analyze annual salaries for a developed country. You incorporated two independent variables, age and experience, into your model. Upon reading the regression results, you noticed that the coefficient of "experience" is negative which appears to be counter-intuitive. In addition you have discovered that the coefficients have low t-statistics but the regression model has a high R2. What is the most likely cause of these results?

a. Incorrect standard errors

b. Heteroskedasticity

c. Serial correlation

d. Multicollinearity

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