Question

# A regression analysis has been conducted between the annual income (in 1000 euros) and the work...

1. A regression analysis has been conducted between the annual income (in 1000 euros) and the work experience (in years) of people with 0.05 significance level. The results are summarized below.
1. Define the independent and dependent variables. What can you say about the correlation between them.
2. Interpret R Square.
3. Write the regression model and interpret the coefficients.
4. Estimate the average annual income of a person who has 15 years of work experience.
 Summary Table 1. Regression Statistics Multiple R 0,93 R Square 0,86 Adjusted R Square 0,82 Standard Error 2,11 Observations 6 Table 2. df SS MS F Significance F Regression 1 107,603 107,603 24,276 0,008 Residual 4 17,730 4,432 Total 5 125,333 Table 3. Coefficients Standard Error t stat p value Lower 95% Upper 95% Intercept 17,351 3,160 5,491 0,005 8,577 26,124 Variable X 1 1,362 0,276 4,927 0,008 0,595 2,130

#### Earn Coins

Coins can be redeemed for fabulous gifts.