Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A data set contains the following information about employees' year-end bonus for the sales department in a company: y = year-end bonus in dollars (BONUS)

A data set contains the following information about employees' year-end bonus for the sales department in a company: y = year-end bonus in dollars (BONUS) X1 = number of years of work experience (WORK) x2 = number of months of experience in sales (SALES) x3 = number of months since the employee was employed (EMPLOYMENT) X4 = dummy variable, coded 1 if the employee is a manager and 0 otherwise (MANAGER) A regression analysis of the data was run using the following model: y= Bo + B1 X1 + B2 x2 + B3 X3 + B4 x4 + + Below is the Excel output of the regression analysis

image text in transcribedimage text in transcribed

image text in transcribedimage text in transcribed

A data set contains the following information about employees' year-end bonus for the sales department in a company: y = year-end bonus in dollars (BONUS) X1 = number of years of work experience (WORK) x2 = number of months of experience in sales (SALES) x3 = number of months since the employee was employed (EMPLOYMENT) X4 = dummy variable, coded 1 if the employee is a manager and 0 otherwise (MANAGER) A regression analysis of the data was run using the following model: y= Bo + B1 X1 + B2 x2 + B3 X3 + B4 x4 + + Below is the Excel output of the regression analysis. 0.79 0.62 Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.59 437.67 60 ANOVA df SS MS F Significance F 4.97E-11 4 4299767.86 22.45 Regression Residual Total 55 17199071.45 10535493.55 27734565.00 191554.43 59 t Stat 9.26 Intercept WORK SALES EMPLOYMENT MANAGER Coefficients Standard Error 3444.04 371.97 89.30 29.47 2.18 0.92 20.91 6.67 922.27 137.54 3.03 2.38 P-value 8.17E-13 0.004 0.021 0.003 1.15E-08 Lower 95% 2698.59 30.24 0.35 7.54 646.63 Upper 95% 4189.49 148.35 4.02 34.27 1197.92 3.13 6.71 Answer the following questions based on the Excel output. Write your final answer only (without intermediate steps) for the fill-in-the-blank Question 5 (4 points) A(n) should be used for the hypothesis testing. Z test Op test t test Ftest Question 6 (5 points) The value of the test statistic = A .Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary. Question 7 (5 points) The p-value for the test = . Use 3- decimal accuracy for the final answer, e.g., 0.123, when necessary. Question 8 (4 points) Based on the p-value and the level of significance a, we cannot tell; more information is needed do not reject Ho reject Ho Screenshot

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Managerial Accounting Concepts

Authors: Edmonds, Tsay, olds

6th Edition

71220720, 78110890, 9780071220729, 978-0078110894

More Books

Students also viewed these Accounting questions

Question

Identify the different methods employed in the selection process.

Answered: 1 week ago

Question

Demonstrate the difference between ability and personality tests.

Answered: 1 week ago