Question
et's assume Great Learning wishes to automate their salary negotiation process.They wish to find the Base salary (y), based on the variables X1 = Experience
et's assume Great Learning wishes to automate their salary negotiation process.They wish to find the Base salary (y), based on the variables X1 = Experience of the candidate, X2 = CTC in the previous company and X3 = Designation in the previous company.
A sample of 50 randomly selected employees was used to fit the multiple regression model. Below is the output we got from the computer:
Predictor | Coefficient |
Constant | 0.019 |
Experience | 0.356 |
CTC (previous company) | 1.4286 |
Designation | 0.002 |
R-Squared = 92% and Adjusted R2 = 91 %
Note: Please answer thenext four questions based on this data
The regression line fitted to the data is:
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