Twenty-one executives in a large corporation were randomly selected to study the

Question

Twenty-one executives in a large corporation were randomly selected to study the effect of several factors on annual salary (expressed in $000s). The factors selected were age, seniority, years of college, number of company divisions they had been exposed to, and the level of their responsibility. The results of the regression analysis follow:

What proportion of the total variation in salary is accounted for by the set of independent variables?

23.00 371 Constant Std Error of the estimate 2.91933 BR 0.91404 21 15 Degrees of Freedom Age Seniority Years of College Divisions Level Regression Coefficients -0.031 0.381 1.452 -0.089 3.554 Coefficient Std Error 0.183 0.158 0.387 0.541 0.833

Explanation / Answer

What proportion of the total variation in salary is accounted for by the set of independent variables?

Its coefficient of Determination R2 = 91.4%

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