Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can we infer there are any significant differences in graduate salaries (Accounting, Marketing and HR) based on years of experience differences in graduate salary between

Can we infer there are any significant differences in graduate salaries (Accounting, Marketing and HR) based on years of experience differences in graduate salary between the 3 streams, or interaction between graduate salary and experience (30%)?

This question appears answered by another expert but I suspect they were not given enough information which I have highlighted above (the interaction). I have attempted the question but need help in a) did I choose the right method? b) are my results correct? and c) I have trouble forming the interpretation.

Firstly, I chose two way ANOVA because I need to see the data for the interaction. Here is my output

Anova: Two-Factor With Replication
SUMMARY Marketing Salary Human Resources Salary Accounting Salary Total
between 1 and 5
Count 62 62 62 186
Sum 3101388 2717088 2848200 8666676
Average 50022.3871 43824 45938.70968 46595.03
Variance 70130653.09 135442950.8 71263395.03 97935879
less than 1
Count 62 62 62 186
Sum 2917188 2739188 2911200 8567576
Average 47051.41935 44180.45161 46954.83871 46062.24
Variance 78840055.53 91544465.89 60987107.35 78071796
more than 5
Count 62 62 62 186
Sum 2977288 2822288 2893800 8693376
Average 48020.77419 45520.77419 46674.19355 46738.58
Variance 90058022.21 118970809.1 57118667.37 88806124
Total
Count 186 186 186
Sum 8995864 8278564 8653200
Average 48364.86022 44508.4086 46522.58065
Variance 80353456.55 114609215.1 62625217.09
ANOVA
Source of Variation SS df MS F P-value F crit
Sample 47238960.57 2 23619480.29 0.274519 0.760042 3.012139 No
Columns 1384032329 2 692016164.3 8.042999 0.000361 3.012139 Yes
Interaction 370796738.4 4 92699184.59 1.077402 0.366852 2.388169 No
Within 47235723710 549 86039569.6
Total 49037791737 557

INTERPRETATION

- Sample (rows), P-value 0.7 > 0.05 suggests insufficient evidence that there are differences in the rows (years of experience)

- Columns (Salaries), P-value .0000361 < .05 suggests there is significant difference in the means of the three streams

-Interaction, P-value 1.07 < 2.39 suggests there is little evidence to suggest interaction so years of experience do not seem to effect the salary streams and the streams do not effect years of experience.

RAW DATA - Please note I found there are 62 rows per sample

Years of experince(for Accounting, HR and Marketing) Marketing Salary Human Resources Salary Accounting Salary
between 1 and 5 46624 28724 53000
between 1 and 5 47624 31524 57500
between 1 and 5 42024 60124 45600
between 1 and 5 57024 40424 35400
between 1 and 5 53624 33124 55100
between 1 and 5 56424 38124 44300
between 1 and 5 58024 41924 47500
between 1 and 5 62124 42724 34400
between 1 and 5 47324 62424 47600
between 1 and 5 51424 29924 40200
between 1 and 5 43724 52124 56400
between 1 and 5 49024 58724 57500
between 1 and 5 45224 24624 38500
between 1 and 5 48924 32424 35500
between 1 and 5 41224 50124 51600
between 1 and 5 48124 60824 56100
between 1 and 5 38824 30324 51200
between 1 and 5 32324 56824 58500
between 1 and 5 54924 28024 42400
between 1 and 5 72324 58424 35700
between 1 and 5 49724 44924 47900
between 1 and 5 33624 39224 44200
between 1 and 5 51424 52924 47400
between 1 and 5 62424 42924 40300
between 1 and 5 53124 38924 53100
between 1 and 5 44724 41924 36600
between 1 and 5 38424 34524 39200
between 1 and 5 48424 39324 46800
between 1 and 5 54024 38824 58500
between 1 and 5 64824 24724 47300
between 1 and 5 40624 38524 51800
between 1 and 5 51124 38524 37700
between 1 and 5 63724 16024 38900
between 1 and 5 47224 48524 35400
between 1 and 5 36924 38824 45100
between 1 and 5 54824 34524 64500
between 1 and 5 58724 46824 47400
between 1 and 5 51724 63624 54700
between 1 and 5 41924 61024 40800
between 1 and 5 59924 47924 37500
between 1 and 5 58424 24924 37300
between 1 and 5 51924 34624 42800
between 1 and 5 47824 47124 51600
between 1 and 5 39324 53124 55300
between 1 and 5 58124 40924 42300
between 1 and 5 34724 35324 51500
between 1 and 5 52324 56024 38100
between 1 and 5 53424 69024 40500
between 1 and 5 41024 56824 41600
between 1 and 5 46224 48824 56400
between 1 and 5 44824 28424 48500
between 1 and 5 38424 42324 55900
between 1 and 5 52724 51424 40400
between 1 and 5 49424 54024 34500
between 1 and 5 63124 49824 54200
between 1 and 5 42524 50124 60100
between 1 and 5 45024 60124 25400
between 1 and 5 55624 43924 35100
between 1 and 5 56024 41224 36400
between 1 and 5 54924 30424 46600
between 1 and 5 59524 50224 55700
between 1 and 5 51524 54224 38900
less than 1 44424 32424 85100
less than 1 32524 35124 44600
less than 1 49724 52924 40700
less than 1 47124 44124 44800
less than 1 46324 37824 43500
less than 1 36224 41124 46800
less than 1 42724 43824 50700
less than 1 40924 37624 51100
less than 1 41524 36924 44600
less than 1 47624 44824 37500
less than 1 56824 31124 45700
less than 1 48324 55924 48800
less than 1 50424 50724 55800
less than 1 36924 51324 56300
less than 1 53424 36324 40900
less than 1 46424 65124 45000
less than 1 40624 42124 41300
less than 1 52224 57624 46400
less than 1 32824 53024 49200
less than 1 61224 54724 40600
less than 1 47024 43624 47900
less than 1 36324 44124 41700
less than 1 44024 42024 47900
less than 1 40624 51224 68600
less than 1 45124 43524 55100
less than 1 59924 46324 34200
less than 1 45524 46924 52300
less than 1 43924 31924 44000
less than 1 36624 40824 40400
less than 1 44024 39724 39100
less than 1 64724 37824 48500
less than 1 46424 48024 46200
less than 1 49824 44524 43000
less than 1 40524 40824 48300
less than 1 50624 57324 45300
less than 1 56624 57224 50600
less than 1 39924 41624 50000
less than 1 51524 51924 46800
less than 1 30624 44224 44000
less than 1 50724 62424 37000
less than 1 33824 33924 40200
less than 1 52424 38324 55400
less than 1 52324 41724 54000
less than 1 51324 57224 41500
less than 1 51524 52424 51000
less than 1 48824 37824 45500
less than 1 46524 56324 44800
less than 1 57624 42724 51100
less than 1 60124 39224 53300
less than 1 47524 38024 51500
less than 1 37124 35824 43200
less than 1 32624 61824 51900
less than 1 53724 46824 45900
less than 1 46924 34524 38900
less than 1 36324 33924 42900
less than 1 38124 34024 45400
less than 1 69424 46924 51600
less than 1 41124 38824 44600
less than 1 48224 18224 35900
less than 1 60424 43724 49600
less than 1 70524 62524 33400
less than 1 47524 23324 49300
more than 5 44024 62324 49500
more than 5 67024 63124 51600
more than 5 46824 32524 50000
more than 5 66624 52624 50000
more than 5 40624 46624 53700
more than 5 51324 38024 43000
more than 5 44924 47424 47900
more than 5 48324 53924 50400
more than 5 54224 54124 43600
more than 5 56724 24024 43500
more than 5 38924 43824 44500
more than 5 57324 53124 60000
more than 5 51924 56824 50600
more than 5 52324 46524 36600
more than 5 59924 46624 44000
more than 5 50024 23324 40100
more than 5 46724 43224 47700
more than 5 40224 44324 42500
more than 5 43724 55524 51100
more than 5 46124 64824 54300
more than 5 28424 17124 43500
more than 5 36624 56824 37600
more than 5 39224 53224 37200
more than 5 49724 34224 57500
more than 5 39424 42924 35100
more than 5 49124 39324 42300
more than 5 44024 37324 34500
more than 5 45124 55524 43300
more than 5 40524 32424 30400
more than 5 55724 43524 56400
more than 5 46424 41324 45800
more than 5 45324 44824 46500
more than 5 46624 50124 50300
more than 5 44224 37124 50100
more than 5 44624 51224 44000
more than 5 63124 32824 54000
more than 5 25524 37024 47600
more than 5 62024 41024 46600
more than 5 42624 46224 54100
more than 5 35124 48224 54800
more than 5 47224 49524 49900
more than 5 48924 19124 46500
more than 5 34724 42824 33700
more than 5 45824 40324 47200
more than 5 53624 48724 42600
more than 5 27224 41424 47900
more than 5 55124 38824 58400
more than 5 58124 47124 40400
more than 5 40224 33624 48500
more than 5 48324 61124 60200
more than 5 41924 39824 66600
more than 5 41224 36724 44600
more than 5 44624 64324 34100
more than 5 52324 36324 52400
more than 5 63824 44524 43400
more than 5 69724 55824 38200
more than 5 41624 49824 52000
more than 5 41524 65424 45300
more than 5 55224 64324 39500
more than 5 55624 53624 41500
more than 5 63024 45524 60800
more than 5 55824 48124 33900

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

Rogawski's Calculus Early Transcendentals For AP*

Authors: Jon Rogawski, Ray Cannon

2nd Edition

1464100543, 9781464100543

More Books

Students also viewed these Mathematics questions