© Copyright 1999 by the Wyoming Department of Employment, Research & Planning

Table: Predictive Model/Regression Equation for Wages of Full-Time Year Round Workers in Western States (R2=0.369, N=9,471)

Coefficient Standard Error t-Value Significance
Constant -$5,950.86 1,140.03 -5.22 0.000
Age $332.09 15.82 21.00 0.000
Usual Hours of Work $300.35 19.86 15.12 0.000
Educational Attainment High School Diploma $5,391.77 526.88 10.23 0.000
Some College but No Degree $7,528.72 569.72 13.22 0.000
Associate Degree--Occupational/Vocation $9,320.59 777.97 11.98 0.000
Associate Degree--Academic Program $7,445.71 861.59 8.64 0.000
Bachelors Degree $13,327.42 624.96 21.33 0.000
Masters Degree $17,594.92 936.18 18.79 0.000
Professional Degree $26,599.02 1,553.80 17.12 0.000
Doctorate $24,935.30 1,752.93 14.23 0.000
Occupation Executive, Administrative and Managerial $12,557.66 516.54 24.31 0.000
Professional Specialty $11,851.42 620.27 19.11 0.000
Technicians and Related Support $8,958.34 839.46 10.67 0.000
Sales $8,677.47 560.34 15.49 0.000
Precision Production, Craft and Repair $5,117.23 517.72 9.88 0.000
Administrative Support including Clerical $2,225.22 558.69 3.98 0.000
Industry Mining $12,022.60 1,224.88 9.82 0.000
Transportation, Communications, & Public Utilities $8,677.16 572.45 15.16 0.000
Durable Goods Manufacturing $7,203.25 488.29 14.75 0.000
Finance, Insurance, & Real Estate $4,490.80 583.25 7.70 0.000
Construction $4,485.14 660.43 6.79 0.000
Nondurable Goods Manufacturing $4,415.20 585.75 7.54 0.000
Wholesale Trade $4,079.48 663.90 6.15 0.000
Gender Female -$7,014.83 347.52 -20.19 0.000
Race American Indian, Alaskan Native -$2,606.90 1,170.98 -2.23 0.026
Region Mountain -$3,550.35 355.88 -9.98 0.000
West North Central -$4,339.32 383.94 -11.30 0.000
For example, the expected wage for a 25 year old white man with a Bachelors Degree usually working 40 hours a week in a sales occupation in a wholesale trade establishment in California would be:
Constant: -$5,950.86
Age: $332.09 multiplied by 25 years of age $8,302.25
Usual hours of work: $300.35 multiplied by 40 hours per week $12,014.00
Education: Bachelors Degree $13,327.42
Occupation: Sales $8,677.47
Industry: Wholesale Trade $4,079.48
Estimated Annual Wage Earnings $40,449.76


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