Correlation: Your manager feels employee pay has a strong correlation with employee retention. Answer the questions below usingtable7.

Table 7

Regression Statistics

Multiple R

0.7029

R Square

0.4941

Adjusted R Square

0.3254

Standard Error

9.5848

Observations

25

Coefficients

Standard Error

t Stat

P-value

Intercept

49.4549

29.7218

4.422514

0.194715

Pay

0.5137

0.3001

51.64959

0.001854

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What is the equation using table 7?

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Explain the coefficient of determinationin table 7

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Using table 7, the coefficient of correlation tells us

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If x is 37,what would the equation show for y (using table 7)