Please answer all parts. Thank you! l. One general belief held by observers of t
ID: 3223493 • Letter: P
Question
Please answer all parts. Thank you!
l. One general belief held by observers of the business would is that taller men earn more money than shorter men In a University of Pittsburgh study, 250 MBA graduates, all about 30 years old, were polled and asked to report their height (in inches) and their annual income (to the nearest Si,000). Use the following output to analyze the relationship between height and eamings for male MBA graduates. SUMMARY OUTPUT Regression statistics Multiple R R Square 0.050545211 dusted R Square 0.046716764 Standard Emor 8.282005017 Observations 250 1 905.5965007 905.5065007 13 20253726 0.000339778 Regression 248 17010.0675 68.5028 1088 Residual 249 7916.564 coefficients Standard t Stat P-value Lower 95% Upper 95% Residuals 25 15 Residuals 20 80 20 Height: Page 2 of 6Explanation / Answer
a) Yes it is appropiate for this data as from the graph it can see the residuals are normally distributed and no heteroskedasticity.
b) Regression equation:
Annual income = 17.93 + 0.604* height
c) The relation between X and Y is linear and positive.
A unit increase in height will increase annual income by 0.604, keeping all other variable constant.
d) My height is 66 inches.
For height = 66
Annual Income = 17.93 + 0.604 * 66 = 57.794
e) R-square =0.05
The model is able to explain only 5% of the variability of annual income around its mean.
f) 1)R-square
2) Correlation between x and y
3) Significance between x and y variable.
g) Yes, the data is normally distibuted as from the above diagram of residuals the frequency has a bell curve shape which is a symbol of normally distributed data.
h) again the residual follows no pattern, it is random. hence no heteriskedaticity.
i) Significant t-test between annual income and height variable.
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