PLEASE HELP ANSWER #6 Salary AgeEmployees Supervised S137,624.14 40 $121,427.853

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PLEASE HELP ANSWER #6

Salary AgeEmployees Supervised S137,624.14 40 $121,427.8535 129,698.40 54 S129,236.51 47 5143,318.11 49 S125,504.59 55 S146,765.01 50 127,260.60 56 5140,695.97 46 S143,647.16 43 5115,120.62 57 S134,346.35 57 5135,158.38 48 127,784.69 57 $139,108.7552 5146,236.83 46 5124,124.40 36 S132,625.07 43 S134,22946 35 117,669.48 58 S132,578.73 48 S139,453.55 56 134,417.38 37 S122,653.40 56 $127,997.92 36 137,109.90 44 130,722.02 36 117,623.28 50 5123,194.16 43 S137,173.84 52 S131,408.94 38 The following data are the results from an annual survey on the salaries of managers in the state of NJ. Besides the annual salary reported by the manager you also have the age of the manager at the time of the survey and the number of employees said manager directly supervises Assume the samples are representative of the population of NJ managers 550 485 518 516 573 502 587 509 562 574 460 537 540 511 556 584 496 530 536 470 530 Using multiple regression analysis to estimate the annual salaries: 1. Test for the overall and individual relationships at the 0.01 level of significance. Int t the results 8 pts.] 2. What should be your equation to estimate the annual salary? Explain your answer 8 pts.] 3. Interpret the coefficients of your equation 8 pts.] 4. What is the expected annual salary f a manager that supervises an and it is 55 of 400 employees 537 490 511 548 average s old? 8 pts.] 470 492 548 525 5. What is the expected annual salary for a manager that supervises an and it is 35 years old? Interpret results from 5 & 4 average of 400 employees 8 pts.] 6. Interpret the coefficient of determination of your regression analysis 8 pts.]

Explanation / Answer

6.

The estimated r-squared (coefficient of determination) is 0.9999 (99.99%)

Interpretation - The percentage of variation of Salary explained by Age and Employees Supervised variables is 99.99%.

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