Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Human Capital Management Company ABC wishes to predict the annual salary of employees to prepare the budget in the coming years. Data was collected from

Human Capital Management Company ABC wishes to predict the annual salary of employees to prepare the budget in the coming years. Data was collected from 40 employees to develop a regression model to predict the employees annual salary using their years with the company (Years), their starting salary (Starting), and their Gender (Male = 0, Female = 1). The partial computer results are shown below:

ANOVA

df

SS

MS

F

Regression

3

4334682510

Residual

36

4056901131

Total

39

8391583641

Coefficients

Standard Error

t Stat

Intercept

27946.57894

4832.438706

5.783121245

Years

1665.251558

425.0829092

3.917474737

Starting

0.266374185

0.12610443

2.112330112

Gender

-3285.541043

5617.145392

-0.584912943

(a) What is the regression equation.

(b) In testing the null hypothesis that the regression equation is not significant

at the 0.05 level, what is the appropriate conclusion?

(c) In testing the significance of the partial regression coefficient associated with the Years variable at the 0.05 level, what is the appropriate conclusion?.

(d) In testing the significance of the partial regression coefficient associated with the Starting variable at the 0.05 significance level, what is the appropriate conclusion?

(e) In testing the significance of the partial regression coefficient associated with the Gender variable at the 0.05 significance level, what is the appropriate conclusion?

(f) For a male employee with 5 years of experience and a starting salary of $30,000, what is the approximate 95% confidence interval for his annual salary? (give formula and t-value)

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

More Books

Students also viewed these Mathematics questions

Question

Prove that (R 2 , U) is second countable.

Answered: 1 week ago

Question

What is population?

Answered: 1 week ago