z. [.11 Points] MV NOTES ASK YOUR TEACHER PRACTICE ANOTHER We assume that our wages wlll Increase as we gain experience and become more valuable to our employers. Wages also increase because of Inatlon. By examining a sample of employees at a given point in time, we can look at part of the picture. How does length or service (L05) relate to wages? The data here (data241.dat) is the LOS in months and wages for so women who work in Indiana banks. Wages are yearly total income divided by the number of weeks worked. We have multiplied wages by a constant for reasons of condentiality. (a) Plot Wages versus LOS. Consider the relationship and whether or not llnear regression might be appropriate. (Do this on paper. Your Instructor may ask you to turn In this graph.) (b) Find the least-squares line. Summarize the signicance test for the slope. What do you conclude? Wages = + t= P: (c) State carefully what the slope tells you about the relationship between wages and length of service. 0 For an Increase of one month experience one can expect on average that the change in wages will be 0.05. o 0.05% of the variation in wages is due to the variation in experience. 0 0.05% of the variation in experience is due to the variation in wages. o For an increase of one unit of wages one can expect on average that the change in experience will be 0.05. (d Give a 95 ( R ) L05 \"In condence interval for the slope. worker wages WmmthMII 52.3545 47.1266 68.8673 38.9326 51.9266 38.2974 49.4171 42.1241 40.1969 40.3269 83.094 40.5208 37.7295 37.5239 58.3172 39.0403 44.1928 63.0059 74.5641 48.0499 61.4444 39.5968 46.4674 55.6659 56.8279 44.0182 68.1328 43.1504 56.0321 43.4922 43.7982 38.0349 61.7127 60.6421 44.1843 92.4743 48.9279 58.17 37.0473 59.5882 50.2601 46.0151 48.3175 67.8289 72.1227 60.9827 47.3921 57.0383 38.9029 48.7554 45.9747 49.9354 51.0756 54.1336 51.4589 43.4083 47.49 44.0319 84.434 38.3581 105 46 23 38 51 56 48 43 104 75 89 62 34 70 35 84 106 138 79 131 45 170 43 98 54 69 30 132 23 55 176 88 14 108 39 50 35 113 36 38 82 77 67 27 47 52 54 89 33 46 29 137 110 102 38 21 49 26 68 138 41 size Large Small Small Small Large Small Large Large Large Small Large Small Small Large Large Large Large Small Large Large Large Small Large Small Large Small Small Large Large Large Small Large Large Small Large Large Large Small Large Small Small Small Large Small Large Small Large Large Small Large Large Large Large Small Small Large Small Large Small Large