Question

Predict the annual salary in dollars for a mathematics instructor with 10 years of experience.

Number of Years Salary(in dollars)

7
48,897.00

9
62,866.00

6
54,585.00

7 56,611.00

11
53,541.00

12
53,541.00

11
47,027.00

3
47,970.00

3
46,668.00

7
48,029.00

9
46,735.00

1 45,000.00

Answer #1

from above:

predicted annual salary for 10 years of experience =46445.105+629.404*10=$52739.15

( please try 50995.83 if we have to try on a significance level)

At a large company, the salaries (y, in thousands of dollars)
and years of experience (x) of six randomly chosen engineers
are:
x (years) 6 7 9 10 13 15
y (salary) 44 41 43 45 51 49
Compute the least squares regression equation and use that
equation to predict the salary (in thousands of dollars) of a new
employee with 8 years of experience,

3. A sales manager collected the following data on
annual sales and years of experience.
Salesperson Years of Experience Annual Sales ($000s)
1 1 132
2 3 160
3 4 145
4 5 168
5 6 168
6 8 180
7 10 188
8 11 218
9 11 193
10 13 229
a. Develop a scatter diagram for these data with years of
experience as the independent variable.
b. Develop an estimated regression equation that can be used to
predict...

Annual income of staff of DebMarine (in thousands of dollars)
and years their years of experience. A
random sample of DebMarine staff Annual income and years of
experience are as follows.
Years of education (x) 3 3 5 7 5 10 7 15 7 10 5 15 5
Annual Income (000s) (y) 17 15 20 30 23 40 27 45 31 43 27 50
25
a. Which variable is the dependent variable? [2]
b. Determine the least squares estimated regression...

Consider the following estimated regression model relating
annual salary to years of education and work experience.
Estimated
Salary=11,756.80+2723.3(Education)+1092.64(Experience)
Suppose an employee with 11 years of education has been with the
company for 2 years (note that education years are the number of
years after 8th grade). According to this model, what is
his estimated annual salary?

Salesperson
Years of Experience
Annual Sales ($1000s)
1
1
85
2
4
100
3
4
91
4
4
97
5
6
107
6
9
109
7
10
118
8
11
126
9
10
113
10
14
132
Compute b1 and b0 (to 1
decimal).
b1 =
b0 =
Complete the estimated regression equation (to 1 decimal).
y = ... + x
According to this model, what is the change in annual sales
($1000s) for every year of experience (to 1...

A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Open spreadsheet
Compute b1 and b0 (to 1
decimal).
b1 =
b0 =...

Let us consider the salary (y), the years of experience(X1) and
the years of schooling (X2) for 50
employees of the Georgia Pacific Company in Crossett, Arkansas. Our
goal is to build a model that will
satisfy all of our assumptions, so that we can use years of
experience and years of schooling to predict
salaries. The data is presented below.
X1 X2 Y X1 X2 Y X1 X2 Y
7 12 26075 21 12 43268 28 16 99139
28...

A leading manufacturing company claims that, its employees have
14 years’ average experience. A study on the experience of 10
randomly selected employees given in Dataset E. At
α=0.10, is the number of years’ experience of the
employees is really different than the company’s claim? (Use
traditional testing of hypothesis).
Years.of.Experience
1
14
2
13
3
18
4
11
5
19
6
13
7
15
8
13
9
15
10
12

A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Salesperson
Years of Experience
Annual Sales ($1000s)
1
1
84
2
4
93...

Consider the following estimated regression model relating
annual salary to years of education and work experience. Estimated
Salary=10,815.11+2563.46(Education)+897.49(Experience) . Suppose
two employees at the company have been working there for five
years. One has a bachelor's degree (8 years of education) and one
has a master's degree (10 years of education). How much more money
would we expect the employee with a master's degree to make?

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 22 minutes ago

asked 22 minutes ago

asked 30 minutes ago

asked 34 minutes ago

asked 36 minutes ago

asked 53 minutes ago

asked 58 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago