Question: 15. Gender differences in salary. Consider the multiple regression equation Y = 10 +5X1 - 3X2 + X3 where X1 is age, X2 is gender

15. Gender differences in salary. Consider the multiple regression equation Y

15. Gender differences in salary. Consider the multiple regression equation Y = 10 +5X1 - 3X2 + X3 where X1 is age, X2 is gender (0 = male, 1 = female), X3 is experience in years, and Y is salary in thousands of dollars. Assume the regression equation fits the data well. (a) Does this mean the overall average for men is about $3,000 higher than the overall average for women? If not, what can you say about the $3,000? (b) Does this mean for men with the same level of experience, older men tend to earn more than younger men

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