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