Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Analyze the relationship between average Salary ($1000) and years of experience working. The data are listed here: Years of experience Average Salary ($1000) _ 20

image text in transcribedimage text in transcribed
Analyze the relationship between average Salary ($1000) and years of experience working. The data are listed here: Years of experience Average Salary ($1000) _\\ 20 25 23 23 28 35 36 38 42 45 (DCONGCH-P-OJM _\\ o SUMMARY OUTPUT Regression Statistics Multiple R 0.9685293 R Square 0.9380497 Adjusted R Square 0.9303052 Standard Error 2.3257454 Observations 10 Coefficient Standard Lower Upper Error t Stat P-value 95% Upper 95% Lower 95.0% 95.0% Intercept 16 1.5887866 10.070573 8.0538E- 12.336258 19.6637482 12.336258 19.663742 X Variable 1 2.8181812 0.2560562 11.006108 4.1315E- 2.2277154 3.4086483 2.2277154 3.4086483 a. 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 10

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

Step: 3

blur-text-image

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

Mathematical Analysis I

Authors: Vladimir A Zorich, Roger Cooke, Octavio Paniagua Taboada

2nd Edition

3662487926, 9783662487921

More Books

Students also viewed these Mathematics questions

Question

What do you need to know about your students to motivate them?

Answered: 1 week ago

Question

Are assessments of candidate attractiveness relevant? Discuss.

Answered: 1 week ago