Question

QUESTION 27 Q27. A manager at a local bank analyzed the relationship between monthly salary (y, in $) and length of service (x, measured in months) for 30 employees. She estimates the model: Salary = Bo + B1 Service + ε. The following ANOVA table below shows a portion of the regression results. df SS M S F Regression 555,420 555,420 7.64 Residual 27 1,962,873 72,699 Total 28 2 ,518,293 Coefficients Standard Error t-stat p-value Intercept 784.92 322.25 2.44 0.02 Service 9.19 3.20 2.87 0.01 Which of the following is the monthly salary of an employee that has worked for 48 months at the bank? $441. O $785. O $1,050. O $1,226.

Answer 1

27)

Y = 784.92 + (9.19*48) = 1226.04

D option $1226.

28)

Correct option is b

An additional bedroom increases rent , on average by $226.

29) the standard error of the estimate is the square root of the average squared deviation.

Correct option is c 269.63

31) a option .at least one of the explanatory variable is significantly related to response variable.

32) 3781/470 = 8.04

Correct option is a. 8.04

33) as p value 0.009 is less than 0.10 so we reject null hypothesis.

Correct option is d.

Reject null hypothesis and conclude that influence of x1 and X2 on y is significant.