The picture is a residual plot, standardised residuals on the ylab and predicted income on the xlab. However as you can see, the xlab are so small that this can't possibly be correct. I have used many different commands, however, I can't seem to figure this out. I use rStudio and this is the commands I Use:
plot(fitted(mod31), stdres(mod31), xlab='Predikert inntekt', ylab='Standardiserte residualer', cex=0.5, cex.lab=1.1, cex.axis=1.1) abline(0,0, col ='blue')
Can anyone please let me know where I am wrong?
This is my reg.model
mod31 = lm(income~workinghrs+woman+age+age.2+leader+educ, data=d) summary(mod31)
Also when I log my variables, the independent variable and the dependent variable, I get very small values as well.
I use these commands
d$income.l = log(d$income) d$workinghrs.l = log(d$workinghrs) mod31.l = lm(income.l~workinghrs.l+woman+age+age.2+leader+educ, data=d) summary(mod31.l)
Working hours is the research variable, while the rest are control variables.
Can someone help me?