Is the proportion of female directors on the board in the Real Estate industry sector higher than that in the Consumer Discretionary industry sector? What is the p-value of the test?

Perform the regression analysis in order to predict the proportion of female directors on the board from the three company financial characteristics (i.e. ROA, stock market returns and total assets).

a) Which of the financial characteristic(s) is significant in predicting the proportion of female directors on the board?

b) Is the regression model useful?

c) Are the errors, i.e. the residuals of the regression analysis, independent?

Stock market Total assets Industry Gender-diversity Proportion of female Firm ID ROA % return % (in $mil) group board directors on board -7.75 -45.46 482 O 0.00 4.28 63.54 503 0 0.00 W 0.76 0.00 511 0.00 0.52 4.65 522 0.00 10.53 -2.76 526 0.00 7.55 9.65 528 0.00 1.36 -2.90 538 0.00 0.31 -38.30 601 0.00 22.55 -15.56 8,238 0.25 10 21.85 59.77 2,736 0.20 1 1 4.16 12.75 537 0.00 12 9.10 -31.85 550 - oo oo - - - oo- - ooo0 0 0.00 13 33.72 27.54 2,879 0.08 14 21.35 -7.47 2,919 0.25 15 15.04 -25.96 2,924 0.33 16 5.44 6.68 562 0.00 17 1.68 - 16.09 569 0.00 18 5.80 13.16 578 0.00 19 4.60 37.17 567 0.00 20 9.62 109.86 2,992 0.30 21 6.24 1 1.47 3,013 0.13 22 3.23 -35.67 568 0.00 23 5.16 -69.31 3,037 o - o 0.14 24 5.98 46.38 675 0.00