Refer to the data in Exercise 11.44.
a. Determine the least- squares estimates of the slope and intercept in the regression line relating first- year salary to years of experience. Interpret the coefficients. Is the intercept meaningful in the context of this data set?
b. Compute the residual standard deviation. Interpret this value.
c. Is there a significant relationship between salary and experience?
d. How much of the variability in salaries is accounted for by the number of years of experience?
In exercise

Transcribed Image Text:

EXPER8 5 5 1 4 3 3 30 13 14 10 2 SALARY 113.9 112.5 109 125.1 111.6 112.7 104.5 100.1 1011 126.9 97.9 113.5 98.3 EXPER25 13 15 15 57 4 3 3 7 SALARY 97.2 1113 124.7 105.3 107 103.8 1074 100.2 1128 100.7 107.3 103.7 1218 EXPER 796 6 465 1 13 1 6 2 4 SALARY 111.7 116.2 108.9 1119 96.1 113.5 110.4 98.7 120.1 98.9 108.4 110.6 101.8 EXPER5 1 42 751 1 0 6 SALARY 104.4 106.6 103.9 105 97.9 104.6 106.9 107.6 103.2 101.6 99.2 101.7 120.1