Report on Linear regression analysis of Education Vs WageConduct a simple linear regression analysis to examine the relationship

between ‘education’ (the independent variable) and ‘wage’ (thedependent variable).

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Abstract

The nexus between wage and education has been a matter of interest for researchers in the

field of labor economics for a stint period (Newman, Couturier, & Scurry, 2010). With

graduation of time, the labor force for any organization has been started to be considered as

another form of capital, i.e. human capital (Machlup, 2014). Now productivity of a capital

comes from its applicability, and in the case of human capital, applicability, suitability, and

skill come with the level of education. If we move up the value chain of any organizations, it

can be easily seen that the level of skill required for performing an operation rises, and so as

the decision making power. Without having adequate education, a perfect mix of skill can

never be attained, and this is a factor, which decides one’s position in an organization, and so

as the wage level (Autor, Katz, & Kearney, 2008). Therefore, there is a possible nexus

between education and wage.