3 Exercise 7-37 Algo An automotive workers union, In conjunction with top management, is negotiating a new hourly pay policy for union workers based on three variables: (1) job class, (2) years with the company, and (3) years as a union member at any company. The goal is to develop an equitable model that can objectively specify hourly pay, thereby reducing pay disparity grievances. The accompanying data file shows Information on 50 union workers. 6 points Click here for the Excel Data File Book References a. Report the sample regression equation of the appropriate model. Note: Negative values should be indicated by a minus sign. Round answers to 2 decimal places. Pay= Job + Company+ Union b-1. At the 5% significance level, are the predictor variables jointly significant? First, specify the competing hypotheses. Hg: 01-02-030; HA: At least one ; > 8 Hg: 01 - 02 - 03-8; HA: At least one d b-5. For each predictor variable, state the p-value and determine whether the predictor variable is significant in explaining Hourly Pay. Note: Round p-value to 3 decimal places. Predictor Variables Job Class Years with Company Years in Union p-Value Significant In Explaining Hourly Pay c. Specify hourly pay for a worker in Job Class 52 with 12 years experience at the company and 16 years with the union. Note: Do not round Intermediate calculations. Round final answer to 2 decimal places. Pay