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).
