Fortune magazine publishes an annual list of the 100 best companies to work for.

The data is provided in the file named FortuneBest and it shows a portion of the data for a

random sample of 30 of the companies that made the top 100 list for 2020. The column labeled

Rank shows the rank of the company in the Fortune 100 list; the column labeled Size indicates

whether the company is a small, midsize, or large company; the column labeled Salaried ($1000s)

shows the average annual salary for salaried employees rounded to the nearest $1000; and the

column labeled Hourly ($1000s) shows the average annual salary for hourly employees rounded

to the nearest $1000. Fortune defines large companies as having more than 10,000 employees,

midsize companies as having between 2500 and 10,000 employees, and small companies as

having fewer than 2500 employees.

a. Use methods of descriptive statistics to summarize the FortuneBest data and comment on

your findings.

b. Based upon the results of your analysis, what estimated regression equation would you

recommend to predict the average annual salary for salaried employees given the average

annual salary for hourly employees and the size of the company. Provide an interpretation

of the estimated regression coefficients for this equation.

c. Determine the significance of the independent variables.. Discuss the need for other

independent variables that could be added to the model. What additional variable/s might

be helpful?