Employees Age Salary Mary 23 28.6 Frieda 31 53.3 Alicia 44 73.8 Tom 22 26.0 Gillian 25 34.3 Bob 54 63.5 Vivian 51 96.4 Cacil 60 122.9 Barry 40 63.8 Jaime 64 111.1 Wanda 34 82.5 Sam 63 80.4 Saundra 40 69.3 Pete 31 52.8 steve 28 54.0 Juan 36 58.7 Dave 58 72.3 Lee 52 88.6 Judd 43 60.2 Sunil 28 61.0 Marcia 54 75.8 Ellen 44 79.8 Iggy 36 70.2 Can we conclude that employee age helps in predicting average employee salary? Follow the 7 steps...

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Question

Basic Math

Employees
Age
Salary
Mary
23
28.6
Frieda
31
53.3
Alicia
44
73.8
Tom
22
26.0
Gillian
25
34.3
Bob
54
63.5
Vivian
51
96.4
Cacil
60
122.9
Barry
40
63.8
Jaime
64
111.1
Wanda
34
82.5
Sam
63
80.4
Saundra
40
69.3
Pete
31
52.8
steve
28
54.0
Juan
36
58.7
Dave
58
72.3
Lee
52
88.6
Judd
43
60.2
Sunil
28
61.0
Marcia
54
75.8
Ellen
44
79.8
Iggy
36
70.2
Can we conclude that employee age helps in predicting averageemployee salary? Follow the 7 steps for hypothesis testing. (10points)
Find the sample regression equation and interpret thecoefficients. Remember your interpretations should be in terms ofthe problem. (4 points)
Find the coefficient of determination, and interpret its value.(3 points)
Use residual analysis to check the validity of the model andfully explain your findings and conclusions. (6 points)
Estimate with 95% confidence the average employee salary forall employees that are 35 years old. Predict with 95% confidencethe estimated salary for an individual employee that is 35 yearsold. Write at least one sentence using your confidence interval andat least one sentence using your prediction interval. (6points)
Verify that the p-value for the F is the sameas the slope’s t statistic’s p-value, and show thatt² = F. (3 points)
Attach or include the relevant Minitab output. (6 points)

Answer & Explanation Solved by verified expert

3.6 Ratings (272 Votes)

The regression output isFind the sample regression equation and interpret thecoefficients Remember your interpretations should be in terms ofthe problem 4 pointsThe regression equation isSalary 81906 14474AgeThe constant is meaningless since age cannot be zeroThe coefficient age interprets that when age increases by 1 thesalary will increase by 14474Find the coefficient of determination and interpret itsvalue 3 pointsThe coefficient of determination value See Answer

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Employees	Age	Salary
Mary	23	28.6
Frieda	31	53.3
Alicia	44	73.8
Tom	22	26.0
Gillian	25	34.3
Bob	54	63.5
Vivian	51	96.4
Cacil	60	122.9
Barry	40	63.8
Jaime	64	111.1
Wanda	34	82.5
Sam	63	80.4
Saundra	40	69.3
Pete	31	52.8
steve	28	54.0
Juan	36	58.7
Dave	58	72.3
Lee	52	88.6
Judd	43	60.2
Sunil	28	61.0
Marcia	54	75.8
Ellen	44	79.8
Iggy	36	70.2