Statistics regression interpretation question
Dependent variable: wage
|
Coefficient std. error T-Ratio P-value |
|
Const −7.18334 1.01579 −7.072 2.51e-012 *** |
|
Female −3.07488 0.364616 −8.433 8.94e-017 *** |
|
Nonwhite −1.56531 0.509188 −3.074 0.0022 *** |
|
Education 1.37030 0.0659042 20.79 5.51e-083 *** |
|
Experience 0.166607 0.0160476 10.38 2.66e-024 *** |
|
Union 1.09598 0.506078 2.166 0.0305 ** |
|
Mean dependent var 12.36585 S.D. dependent var 7.896350 |
Sum squared resid 54342.54 S.E. of regression 6.508137 |
R-squared 0.323339 Adjusted R-squared 0.320702 |