Question
The data listed below give information for 10 middle-level managers at a particular company. The first column is years of experience [X] and the second
The data listed below give information for 10 middle-level managers at a particular company. The first column is years of experience [X] and the second column is annual salary (in thousands) [Y]. We are going to examine the relationship between salary inthousands[Y] and years of experience[X]. Below is the regression output.
Manager#
(X)
(Y)
1
xx
66
2
xx
69
3
23
78
4
xx
41
5
19
xx
6
15
xx
7
24
xx
8
xx
33
9
2
28
10
xx
32
SUMMARY OUTPUT
Regression Statistics
Multiple R
xxx
R Square
0.789
Adjusted R Square
0.740
Standard Error
8.376
Observations
10
ANOVA
df
SS
MS
F
SignificanceF
Regression
1.000
1503.75
1503.75
xxxx
xxxx
Residual
8.000
561.25
70.156
Total
xxx
xxx
Coefficients
Standard Error
t Stat
P value
Intercept
16.586
7.201
2.303
0.050
Yrs Exp (X)
2.892
0.625
xxx
0.003
RESIDUALOUTPUT
Observation
Standardized Residuals
1
-0.956
2
2.129
3
-0.567
4
-1.307
5
1.381
6
-0.417
7
-2.780
8
-0.962
9
1.734
10
1.377
According to the least squares line, if the experience increases by 2 years, the Salary should _______ by ______units (in thousands).
Group of answer choices
Increase, 11.568
Increase, 2.892
Increase, 5.784
Decrease, 2.892
Decrease, 5.784
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