Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Your firm is interested in learning more about how its salaries relate to its employees' tenure with the firm. It has collected the following data
Your firm is interested in learning more about how its salaries relate to its employees' tenure with the firm. It has collected the following data for 25 of its employees. Employee Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 $17 18 19 20 21 22 23 24 25 Tenure (Years) 15 32 14 20 25 14 28 30 28 17 14 6 21 11 14 32 29 33 27 16 26 3 14 9 14 Salary ($) 53,408 77,230 53,664 55,647 60, 611 51,991 71,071 69, 189 67,359 50,978 56,176 38,865 58,176 52, 101 50,941 73,964 67,873 73,860 60,519 48,474 69,574 34,594 52,176 56,444 57,806 Solve for the intercept and slope of the regression line: Salary = b + mx Tenure. Instructions: Enter your responses rounded to the nearest hundredth (two decimal places). Intercept: Slope:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started