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[solution]: For 6-12, refer to the attached regression output. Here we are


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For 6-12, refer to the attached regression output.  Here we are using years of experience, college GPA, and company entrance score to predict employee salaries at a local firm.

 

We would conclude that the overall model (using all three explanatory variables) is statistically significant at the .05 level.  (2)

    1. true
    2. false

None of the explanatory variables are useful predictors.  (2)

true

false

The most useful predictor in the presence of the other explanatory variables is __________.  (2)

Multicollinearity is  (3)

severe.

mild.

nonexistent.

Which of the following combinations would be expected to yield the highest pay?  Values are years, GPA, and score.  (2)

5, 3.7, 80

7, 3.2, 85

8, 3.6, 85

5, 3.8, 85


Regression Output 


SUMMARY OUTPUT 1

Regression Statistics

Multiple R

0.686507

R Square

0.4712919

Adjusted R Square

0.3655502

Standard Error

18.962716

Observations

19

ANOVA

df

SS

MS

F

Significance F

Regression

3

4808.020459

1602.673

4.457014

0.019857133

Residual

15

5393.769015

359.5846

Total

18

10201.78947

Coefficients

Standard Error

t Stat

P-value

Intercept

-59.69295

38.48117376

-1.55122

0.141687

Years

-0.510186

1.100900645

-0.46343

0.649712

GPA

24.510667

12.31973076

1.989546

0.065194

Score

0.7600061

0.295486746

2.572048

0.021248

Correlation Matrix

Salary

Years

GPA

Score

Salary

1

Years

0.192517816

1

GPA

0.484367567

0.280138

1

Score

0.575980821

0.341399

0.226652

1

SUMMARY OUTPUT 2

Regression Statistics

Multiple R

0.5759808

R Square

0.3317539

Adjusted R Square

0.2924453

Standard Error

20.025434

Observations

19

ANOVA

df

SS

MS

F

Significance F

Regression

1

3384.483506

3384.484

8.43973

0.009855012

Residual

17

6817.305968

401.018

Total

18

10201.78947

Coefficients

Standard Error

t Stat

P-value

Intercept

8.103183

18.48029361

0.438477

0.666562

Score

0.8430371

0.290189996

2.905121

0.009855



For 6-12, refer to the attached regression output. Here we are using years of experience, college

 

GPA, and company entrance score to predict employee salaries at a local firm.

 

1. We would conclude...

 


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