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

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Basic Math

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 + b1*Experience + b2*Eval

SalaryYears of experienceAverage evaluation
$ 56,744.3056.85
$ 49,875.1202.92
$ 64,629.4461.69
$ 53,148.6721.89
$ 56,130.6984.93
$ 57,246.7145.87
$ 51,097.0905.09
$ 50,303.0006.42
$ 56,212.3724.2

True/false. The eval score is a significant predictor of salaryat the 5% level.

True

False

Answer & Explanation Solved by verified expert
4.1 Ratings (569 Votes)

Solution:

In excel go to

Data>Data analysis>regression

you will get

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.804387228
R Square 0.647038813
Adjusted R Square 0.529385084
Standard Error 3167.333553
Observations 9
ANOVA
df SS MS F Significance F
Regression 2 1.1E+08 55171176 5.4995181 0.043972469
Residual 6 60192011 10032002
Total 8 1.71E+08
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 54187.6859 3044.864 17.79642 2.023E-06 46737.17125 61638.2
Years of experience 1206.385977 384.0964 3.140842 0.0200465 266.5359348 2146.236
Average evaluation -624.0392499 589.5046 -1.05858 0.3305343 -2066.505 818.4265

For avergae evaluation

t=-1.05858

p=0.3305

p>0.05

Not significant predictor at 5% level of signifcance.

he eval score is NOT a significant predictor of salary at the 5% level.

FALSE
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