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 Year Hire (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
Year Hire -826 -5.5 .000
Race -2,093 -4.3 .000
Rank -6,438 -22.3 .000
R2 = 0.811 R2adj= 0.809 s = 3,318