Question
Please use R or R Studio for the following questions. 1.1. Access the Salaries dataset by using the code: library(car); library(carData); data(Salaries) Plot salary vs.
Please use R or R Studio for the following questions.
1.1. Access the Salaries dataset by using the code: library(car); library(carData); data(Salaries)
Plot salary vs. years since PhD. What's your interpretation?
1.2. What is the correlation for salary vs. years since PhD? Is it statistically significant?
1.3. What is the correlation for salary vs. years of service? Is it statistically significant?
1.4. Draw a visualization of all bivariate relationships.
1.5. Check skewness of "salary" variable that is a dependent variable of your regression model. Should it be transformed? If so, how?
1.6. Run a linear regression model that predicts salary (DV: salary) based on the number of service years (IV: yrs.service). And interpret your results of the above regression analysis. Hint: Focus on (1) estimated coefficient and (2) R-squared.
1.7. If a new professor who has 10-year experience of service joins ISU next semester, then your prediction based on the model of her/his salary is...?
1.8. Run a linear regression model (model.1) that predicts salary (DV: salary) based on the following independent variables, yrs.since.phd, yrs.service, sex, rank, discipline. And interpret your results of the above regression analysis. Hint: Focus on (1) estimated coefficients, (2) R-squared, and (3) Adjusted R-squared.
1.9. Check "multicollinearity" in the model.1 by using Variance Inflation Factor (VIF).
1.10. Run a linear regression model (model.2) by dropping a variable whose VIF or GVIF is the highest from model.1. And interpret your results of the above regression analysis. Hint: Focus on (1) estimated coefficients, (2) R-squared, and (3) Adjusted R-squared.
1.11. Compare the two models (i.e., model.1 and model.2) by using (1) R-squared & Adjusted R-squared, (2) visualization, and (3) formal statistical test.
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