nswer all questrions and SHOW ALL work 1)Use the following dataset to calculate
ID: 3129752 • Letter: N
Question
nswer all questrions and SHOW ALL work
1)Use the following dataset to calculate the answers by hand. Round all values to 4 decimals.
The following table gives information on salaries in thousands of dollars, years of education past high school, and years of experience of the firm. These observations were randomly drawn from a large firm.
a)Write the hypothesized regression equation.
b)Calculate the estimates for the intercept and slopes.
c)Calculate the estimate of the regression standard error.
d)Calculate and interpret R2.
e)Calculate and interpret adj-R2.
f)Calculate and interpret the simple correlation coefficient.
Annual Sallary Year of school past high school years experience with film 30 4 10 20 3 8 36 6 11 24 4 9 40 8 12Explanation / Answer
a) The Regression equation is
y=a+bx1+cx2
where y is annual salary and x1 is year of school and x2 is years experience
From Excel
b)
Slope for x1=-0.25
slope for x2 =5.5
c) Standard error=0.866
d) Coefficient of determination R2 =0.9944
e) adj-R2.=0.9989
f) Correlation r=0.9972
Hence there is 99.72% relation between the variables
SUMMARY OUTPUT Regression Statistics Multiple R 0.997239 R Square 0.994485 Adjusted R Square 0.988971 Standard Error 0.866025 Observations 5 ANOVA df SS MS F Significance F Regression 2 270.5 135.25 180.3333 0.005515 Residual 2 1.5 0.75 Total 4 272 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept -23.75 5.533421 -4.2921 0.050228 -47.5584 0.05839 Year of school past high school -0.25 0.684653 -0.36515 0.75 -3.19582 2.695825 years experience with film 5.5 0.866025 6.350853 0.023908 1.773793 9.226207Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.