An expert witness in a case of alleged racial discrimination in a state university school of nursing introduced a regression of the determinants of Salary of each professor for each year during an 8-year period (n = 423) with the following results, with dependent variable Year (year in which the salary was observed) and predictors YearHire (year when the individual was hired), Race (1 if individual is black, 0 otherwise), and Rank (1 if individual is an assistant professor, 0 otherwise). Interpret these results
Variable Coefficient t p
Intercept − 3,816,521 − 29.4 .000
Year 1,948 29.8 .000
YearHire − 826 − 5.5 .000
Race − 2,093 − 4.3 .000
Rank − 6,438 − 22.3 .000
R2= 0.811 R2 adj =0.809 s = 3