Question: Now examine the effect of gender on annual salary, with and without adjusting for age and experience.
a. Find the average annual salary for men and for women and compare them.
b. Using a two-sided test at the 5% level, test whether men are paid significantly more than women.
c. Find the multiple regression equation to predict annual salary from age, experience, and gender, using an indicator variable for gender that is 1 for a woman.
d. Examine and interpret the regression coefficient for gender.
e. Does gender have a significant impact on annual salary after adjustment for age and experience?
f. Compare and discuss your results from parts b and e of this exercise.