Question 12 Please answer the following set of questions, based on the information provided below. The data listed...

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Basic Math

Question 12
Please answer the following set of questions, based onthe information provided below.
The data listed below give information for 10 middle-levelmanagers at a particular company. The first column is years ofexperience [X] and the second column is annual salary (inthousands) [Y]. We are going to examine the relationship betweensalary in thousands [Y] and years of experience[X]. Below is theregression output.
Manager#
    (X)
    (Y)
1
xx
66
2
xx
69
3
23
78
4
xx
41
5
19
xx
6
15
xx
7
24
xx
8
xx
33
9
2
28
10
xx
32
SUMMARY OUTPUT
Regression Statistics
Multiple R
xxx
R Square
0.789
Adjusted R Square
0.740
Standard Error
8.376
Observations
10
ANOVA
           df
SS
MS
F
SignificanceF
Regression
1.000
1503.75
1503.75
xxxx
xxxx
Residual
8.000
561.25
70.156
Total
xxx
xxx
Coefficients
Standard Error
t Stat
P value
Intercept
16.586
7.201
2.303
0.050
Yrs Exp (X)
2.892
0.625
xxx
0.003
RESIDUALOUTPUT
Observation
Standardized Residuals
1
-0.956
2
2.129
3
-0.567
4
-1.307
5
1.381
6
-0.417
7
-2.780
8
-0.962
9
1.734
10
1.377
According to the least squares line, if the experience increasesby 2 years, the Salary should _ by units (inthousands).

Answer & Explanation Solved by verified expert

4.5 Ratings (890 Votes)

Solution Backup Theory The linear regression model Y 0 1X 1 where is the error term which is assumed to be Normally distributed with mean 0 and variance 2 Estimated Regression of Y on X is given by Ycap 0cap See Answer

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Manager#	(X)	(Y)
1	xx	66
2	xx	69
3	23	78
4	xx	41
5	19	xx
6	15	xx
7	24	xx
8	xx	33
9	2	28
10	xx	32

SUMMARY OUTPUT

Regression Statistics
Multiple R	xxx
R Square	0.789
Adjusted R Square	0.740
Standard Error	8.376
Observations	10

ANOVA
	df	SS	MS	F	SignificanceF
Regression	1.000	1503.75	1503.75	xxxx	xxxx
Residual	8.000	561.25	70.156
Total	xxx	xxx

	Coefficients	Standard Error	t Stat	P value
Intercept	16.586	7.201	2.303	0.050
Yrs Exp (X)	2.892	0.625	xxx	0.003

RESIDUALOUTPUT

Observation	Standardized Residuals
1	-0.956
2	2.129
3	-0.567
4	-1.307
5	1.381
6	-0.417
7	-2.780
8	-0.962
9	1.734
10	1.377