Description Here is some data looking at people's salaries, their years of experience, and their average evaluation....

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Question

Basic Math

Description
Here is some data looking at people's salaries, their years ofexperience, and their average evaluation. Please cut and paste itinto excel and run the following regression:
Salary = b0 + b1Experience + b2Eval
Salary Years of experience Average evaluation
$ 56,744.30 5 6.85
$ 49,875.12 0 2.92
$ 64,629.44 6 1.69
$ 53,148.67 2 1.89
$ 56,130.69 8 4.93
$ 57,246.71 4 5.87
$ 51,097.09 0 5.09
$ 50,303.00 0 6.42
$ 56,212.37 2 4.2
Instructions
Question 1
What percent of the variance in salary is explained by knowingyears of experience and average evaluations?

Answer & Explanation Solved by verified expert

4.2 Ratings (670 Votes)

The given data was taken into Excel and regression analysis wasperformed The regression output for the given problem is shownbelowBased on the above summary output the value of b0 is54187686The value of b1 is 1206386The value of b2 is 624039R2 Coefficient See Answer

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