A group of researchers wanted to look at factors that affect current salary. The
ID: 3431956 • Letter: A
Question
A group of researchers wanted to look at factors that affect current salary. They randomly selected individuals with providing information on current salary, beginning salary, previous experience (in months) when hired, and total years of education for a sample of 100 employees in a firm.
Suppose there was a state with the following values of the independent variables: Beginning Salary = $21,000, Previous Experience (months) = 105 and Education (years) = 10. Determine and interpret the predicted value of Current Salary.
Current Salary
Beginning Salary
Previous Experience (months)
Education (years)
$57,000
$27,000
144
15
$40,200
$18,750
36
16
$21,450
$12,000
381
12
$21,900
$13,200
190
8
$45,000
$21,000
138
15
$32,100
$13,500
67
15
$36,000
$18,750
114
15
$21,900
$9,750
0
12
$27,900
$12,750
115
15
$24,000
$13,500
244
12
$30,300
$16,500
143
16
$28,350
$12,000
26
8
$27,750
$14,250
34
15
$35,100
$16,800
137
15
$27,300
$13,500
66
12
$40,800
$15,000
24
12
$46,000
$14,250
48
15
$103,750
$27,510
70
16
$23,700
$13,500
359
15
$26,550
$14,250
61
15
$27,600
$15,000
75
12
$25,800
$15,000
143
12
$42,300
$26,250
126
16
$30,750
$15,000
451
8
$26,700
$12,900
18
12
$20,850
$12,000
163
12
$35,250
$15,000
54
15
$26,750
$15,000
55
15
$26,550
$13,050
11
12
$27,750
$12,000
11
12
$25,050
$12,750
123
16
$66,000
$47,490
150
16
$52,650
$19,500
20
16
$45,650
$23,250
55
16
$30,900
$15,000
25
15
$29,400
$16,500
24
15
$24,900
$11,250
0
12
$19,650
$10,950
11
12
$22,050
$10,950
9
12
$25,500
$12,000
11
12
$28,200
$12,750
19
15
$23,100
$11,250
13
12
$25,500
$11,400
9
12
$17,100
$10,200
0
8
$68,125
$32,490
29
18
$30,600
$15,750
460
12
$52,125
$27,480
221
19
$61,875
$36,750
199
19
$21,400
$11,000
18
8
$19,650
$11,250
5
12
$22,350
$11,250
5
12
$23,400
$11,250
18
12
$24,300
$10,950
8
12
$28,500
$11,250
4
12
$19,950
$11,250
8
12
$23,400
$11,250
0
12
$34,500
$17,250
3
16
$18,150
$10,950
0
12
$21,750
$12,450
318
8
$59,300
$33,850
270
12
$24,450
$14,250
117
12
$101,500
$60,600
140
16
$35,700
$16,500
72
12
$22,200
$16,500
7
12
$22,950
$13,950
22
15
$23,100
$12,000
228
12
$56,750
$30,000
15
16
$29,100
$12,750
375
17
$37,650
$15,750
132
12
$27,900
$13,500
32
12
$21,150
$12,000
159
8
$31,200
$15,750
155
12
$20,550
$11,250
154
12
$20,700
$11,250
2
12
$21,300
$11,250
3
12
$24,300
$15,000
121
12
$19,650
$13,950
133
12
$60,000
$32,490
17
17
$30,300
$15,750
55
15
$61,250
$33,000
9
19
$36,000
$19,500
21
19
$25,200
$18,750
344
8
$30,750
$15,000
56
12
$33,540
$15,750
47
12
$34,950
$20,250
55
16
$40,350
$16,500
80
15
$30,270
$15,750
80
12
$26,250
$16,050
264
8
$32,400
$15,000
64
15
$20,400
$11,250
0
12
$24,150
$12,750
96
8
$23,850
$13,500
122
15
$29,700
$13,500
26
12
$21,600
$13,500
228
8
$24,450
$15,750
87
12
$29,050
$17,000
86
15
$100,000
$44,100
128
16
$49,000
$20,550
86
15
$16,350
$10,200
163
12
$70,000
$21,750
19
16
Current Salary
Beginning Salary
Previous Experience (months)
Education (years)
$57,000
$27,000
144
15
$40,200
$18,750
36
16
$21,450
$12,000
381
12
$21,900
$13,200
190
8
$45,000
$21,000
138
15
$32,100
$13,500
67
15
$36,000
$18,750
114
15
$21,900
$9,750
0
12
$27,900
$12,750
115
15
$24,000
$13,500
244
12
$30,300
$16,500
143
16
$28,350
$12,000
26
8
$27,750
$14,250
34
15
$35,100
$16,800
137
15
$27,300
$13,500
66
12
$40,800
$15,000
24
12
$46,000
$14,250
48
15
$103,750
$27,510
70
16
$23,700
$13,500
359
15
$26,550
$14,250
61
15
$27,600
$15,000
75
12
$25,800
$15,000
143
12
$42,300
$26,250
126
16
$30,750
$15,000
451
8
$26,700
$12,900
18
12
$20,850
$12,000
163
12
$35,250
$15,000
54
15
$26,750
$15,000
55
15
$26,550
$13,050
11
12
$27,750
$12,000
11
12
$25,050
$12,750
123
16
$66,000
$47,490
150
16
$52,650
$19,500
20
16
$45,650
$23,250
55
16
$30,900
$15,000
25
15
$29,400
$16,500
24
15
$24,900
$11,250
0
12
$19,650
$10,950
11
12
$22,050
$10,950
9
12
$25,500
$12,000
11
12
$28,200
$12,750
19
15
$23,100
$11,250
13
12
$25,500
$11,400
9
12
$17,100
$10,200
0
8
$68,125
$32,490
29
18
$30,600
$15,750
460
12
$52,125
$27,480
221
19
$61,875
$36,750
199
19
$21,400
$11,000
18
8
$19,650
$11,250
5
12
$22,350
$11,250
5
12
$23,400
$11,250
18
12
$24,300
$10,950
8
12
$28,500
$11,250
4
12
$19,950
$11,250
8
12
$23,400
$11,250
0
12
$34,500
$17,250
3
16
$18,150
$10,950
0
12
$21,750
$12,450
318
8
$59,300
$33,850
270
12
$24,450
$14,250
117
12
$101,500
$60,600
140
16
$35,700
$16,500
72
12
$22,200
$16,500
7
12
$22,950
$13,950
22
15
$23,100
$12,000
228
12
$56,750
$30,000
15
16
$29,100
$12,750
375
17
$37,650
$15,750
132
12
$27,900
$13,500
32
12
$21,150
$12,000
159
8
$31,200
$15,750
155
12
$20,550
$11,250
154
12
$20,700
$11,250
2
12
$21,300
$11,250
3
12
$24,300
$15,000
121
12
$19,650
$13,950
133
12
$60,000
$32,490
17
17
$30,300
$15,750
55
15
$61,250
$33,000
9
19
$36,000
$19,500
21
19
$25,200
$18,750
344
8
$30,750
$15,000
56
12
$33,540
$15,750
47
12
$34,950
$20,250
55
16
$40,350
$16,500
80
15
$30,270
$15,750
80
12
$26,250
$16,050
264
8
$32,400
$15,000
64
15
$20,400
$11,250
0
12
$24,150
$12,750
96
8
$23,850
$13,500
122
15
$29,700
$13,500
26
12
$21,600
$13,500
228
8
$24,450
$15,750
87
12
$29,050
$17,000
86
15
$100,000
$44,100
128
16
$49,000
$20,550
86
15
$16,350
$10,200
163
12
$70,000
$21,750
19
16
Explanation / Answer
Current Salary =-4,076.1839+1.7031*Beginning Salary-10.7273*Previous Experience (months)+746.1565*Education (years) =38024.11
Regression output confidence interval variables coefficients std. error t (df=96) p-value 95% lower 95% upper Intercept -4,076.1839 4,218.4445 -0.966 .3363 -12,449.7297 4,297.3620 Beginning Salary 1.7031 0.1136 14.997 6.72E-27 1.4777 1.9285 Previous Experience (months) -10.7273 7.7898 -1.377 .1717 -26.1900 4.7354 Education (years) 746.1565 352.7443 2.115 .0370 45.9646 1,446.3485Related Questions
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