Question

Consider the following computer output of a multiple regression analysis relating annual salary to years of...

Consider the following computer output of a multiple regression analysis relating annual salary to years of education and years of work experience.

Regression Statistics

Multiple R

0.7345

R Square

0.5395

Adjusted R Square

0.5195

Standard Error

2134.9715

Observations

49

ANOVA

df

SS

MS

F

Significance F

Regression

2

245,644,973.9500

122,822,486.9750

26.9460

1.8E-08

Residual

46

       209,672,760.0092

4,558,103.4785

Total

48

455,317,733.9592

Coefficients

Standard Error

t Stat

P-value

Lower 95%

Upper 95%

Intercept

14271.51879

2,525.5672

5.6508

0.000000963

9187.8157

19,355.2219

Education (Years)

2351.3035

337.7109

6.9625

0.00000001

1671.5267

3031.0803

Experience (Years)

832.8612

392.0947

2.1241

0.039069201

43.6155

1622.1069

Step 1 of 2:  

What would be your expected salary with no education and no experience?

Step 2 of 2:

How much would you expect your salary to increase if you had one more year of education?

Homework Answers

Answer #1

the regression equation from the given table is

ans 1 )

expected salary with no education and no experience will be

expected salary = 14271.519

ans 2 )  

Expect your salary to increase if you had one more year of education is

Expect salary to increase if you had one more year of education is 16622.819

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