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1.Analyze the relationship between average Salary:r [$1000] and years of experience working. The data are listed here: Years of experience Average Salary [$1000] '1 2|]
1.Analyze the relationship between average Salary:r [$1000] and years of experience working. The data are listed here: Years of experience Average Salary [$1000] '1 2|] 2 25 3 25 4 23 5 2B 6 35 i' 36 8 4|] 9 42 1|] 45 SUMMARY OUTPUT Regression Statistics Multiple R 0.96964051 R Square 0.94020272 Adjusted R Square 0.93272806 Standard Error 2.28234329 Observations 10 Standard Lower Upper Coefficients Error t Stat P-value Lower 95% Upper 95% 95.0% 95.0% 5.8121E- Intercept 16.4 1.55913729 10.5186375 06 12.804623 19.995377 12.804623 19.995377 X Variable 1 2.81818182 0.25127773 11.2154064 3.583E-06 2.23873434 3.39762929 2.23873434 3.39762929a. Is the correlation positive or negative? b. What is the response and explanatory variable? c. What is the coefficient of determination (r2) and interpret the meaning d. What is the correlation coefficient (r ) and comment on the strength of correlation? e. Determine the least-squares line y = a + bx. f. Predict the average Salary ($1000) , if the years of experience is 7
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