Question
Suppose the following data were collected from a sample of 1515 CEOs relating annual salary to years of experience and the economic sector their company
Suppose the following data were collected from a sample of 1515 CEOs relating annual salary to years of experience and the economic sector their company belongs to. Use statistical software to find the following regression equation:
SALARYi=b0+b1EXPERIENCEi+b2SERVICEi+b3INDUSTRIALi+eiSALARYi=b0+b1EXPERIENCEi+b2SERVICEi+b3INDUSTRIALi+ei.
Is there enough evidence to support the claim that on average, CEOs in the service sector have lower salaries than CEOs in the financial sector at the 0.050.05 level of significance? If yes, write the regression equation in the spaces provided with answers rounded to two decimal places. Else, select "There is not enough evidence."
Copy Data
| Salary | Experience | Service (1 if service sector, 0 otherwise) | Industrial (1 if industrial sector, 0 otherwise) | Financial (1 if financial sector, 0 otherwise) |
|---|---|---|---|---|
| 175000175000 | 1616 | 00 | 00 | 11 |
| 147228147228 | 22 | 00 | 00 | 11 |
| 135012135012 | 55 | 00 | 11 | 00 |
| 149063149063 | 1515 | 11 | 00 | 00 |
| 212433212433 | 3030 | 00 | 00 | 11 |
| 161688161688 | 2727 | 11 | 00 | 00 |
| 197770197770 | 2424 | 00 | 00 | 11 |
| 136350136350 | 33 | 00 | 11 | 00 |
| 138800138800 | 22 | 00 | 11 | 00 |
| 148600148600 | 1515 | 11 | 00 | 00 |
| 139325139325 | 22 | 00 | 11 | 00 |
| 161638161638 | 2323 | 00 | 11 | 00 |
| 162300162300 | 2424 | 11 | 00 | 00 |
| 134188134188 | 55 | 11 | 00 | 00 |
| 139580139580 | 22 | 00 | 00 | 11 |
Selecting a checkbox will replace the entered answer value(s) with the checkbox value. If the checkbox is not selected, the entered answer is used.
SALARYi=SALARYi= b0 ++ b1 EXPERIENCEiEXPERIENCEi ++ b2 SERVICEiSERVICEi ++ b3 INDUSTRIALi+eiINDUSTRIALi+ei
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Essentials of Materials Science and Engineering
Authors: Donald R. Askeland, Wendelin J. Wright
3rd edition
978-1111576868, 1111576866, 978-1285677620, 1285677625, 978-1111576851
