Question
Twenty-three executives in a large corporation were randomly selected for a study in which several factors were examined to determine the effect on annual salary
Twenty-three executives in a large corporation were randomly selected for a study in
which several factors were examined to determine the effect on annual salary
(expressed in $'000s). The factors selected were age, seniority, years of education,
number of company divisions the executives had experience with, and level of
responsibility. The regression analysis is as follows:
Coefficient (Coef) Table
Predictor Coef Standard
Error CoefTConstant 23.00371 2.91933 7.8800Age -0.03100 0.18300 1.1694Seniority 0.38100 0.15800 2.4114Education 1.45200 0.38700 3.7519Number of divisions -0.08900 541 0.1645Level of responsibility 3.55400 0.83300 4.2665R2 = 0.941
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