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?

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