Question

c) Using your output from b), compute the difference in estimated salary between the finance and...

c) Using your output from b), compute the difference in estimated salary between the finance and consumer products (consprod) industries (holding sales and roe fixed).

please answer C using the ols regression below

Regression Statistics
Multiple R 0.267775
R Square 0.0717035
Adjusted R Square 0.048839
Standard Error 1338.4138
Observations 209
Coefficients Standard Error t Stat P-value
Intercept 943.96997 289.3127612 3.262801 0.001294
sales 0.0129842 0.008936132 1.453 0.147768
roe 4.9971073 12.48281546 0.400319 0.689343
finance 253.46296 260.4732312 0.973086 0.331668
consprod 560.323 246.8522226 2.269872 0.024266
utility -320.84965 290.8800298 -1.10303 0.27132
Math   Statistics-And-Probability   
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Answer #1

The independent variable finance is equal to 1 for finance while the independent variable consprod is equal to 1 for consumer products .

Holding the ROE and sales constant, the difference in estimated salary between the finance and consumer products here is computed as:

= Coefficient of finance - Coefficient of consumer products

= 253.46296 - 560.323

= -306.86004

Therefore $306.86 is the required difference here, consumer products salary is expected to be $306.86 more than finance.

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