Question
The Niagara Workforce Planning Board intends to find a relationship between Labour Productivity and Wages by industries. The Excel file NWPB/Labour Productivity.xlsx provides Labour productivity
The Niagara Workforce Planning Board intends to find a relationship between Labour Productivity and Wages by industries. The Excel file NWPB/Labour Productivity.xlsx provides Labour productivity and related measures for business sector industry and for non- commercial activity.
(a) Construct scatter diagrams: relationship between Labour Productivity (independent vari- able) and Total Compensation Per Hour Worked (Dependent variable) separately for the industries: 'Business sector industries', 'Non-business sector industries', 'Non-profit insti- tutions serving households', and 'All industries' over the decade. Find the equations of the regression line.
(b) Using an Excel worksheet, find the trend line, coefficient of determination, and coefficient of correlation. Where are the strongest and weakest linear relationships present and why? In which industry does a change in labour productivity have no significant effect on the wage.
(c) Based on the regression model for 'All Industries', estimate the average wage between 2008 and 2017 with the Labour Productivity equal to 60 dollars per hour.
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