In a particular company, 10 employees are selected at random and their salary and years of...
- In a particular company, 10 employees are selected at random and their salary and years of experience are recorded. The results are given in the table below:
Years Experience and Starting Salary
|
Years |
Salary |
|
6 |
82 |
|
2 |
56 |
|
4 |
64 |
|
6 |
77 |
|
7 |
92 |
|
0 |
23 |
|
1 |
41 |
|
8 |
80 |
|
5 |
59 |
|
3 |
47 |
We would like to estimate a regression that investigates how salary is determined by years of experience, i.e.,
For the above data find:
- (10pts) The regression slope : (use the equations found in the lecture notes)
- (5pts) The regression intercept : (use the equations found in the lecture notes)
- (5pts) If SSR = 3544.576 and SST = 4084.9 , what is SSE?
- (5pts) What is for this model?
- (5pts) If the standard error for is 1.031 what is the t-score and p-value for testing .
- (5pts) Using the p-value for the test in (e.) at what value of alpha would you reject null hypothesis?
- (5pts) What is the correlation between and ?
Homework Answers
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In a particular company, 10 employees are selected at random
and their salary and years of...
Please answer all the questions relating to part 1 Stat 3309 - Statistical Analysis for Business...
Please answer all the questions relating to part 1
Stat 3309 - Statistical Analysis for Business Applications I Consider the following data representing the starting salary in $1,000) at some company and years of prior working experience in the same field. The sample of 10 employees was taken and the following data is reported. years of experience starting salary in $1,000) 2 50 15 18 20 Part 1: Use the formulas provided on the 3rd formula sheet to compute the...
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Stat 3309 - Statistical Analysis for Business Applications I Consider the following data representing the starting salary in $1,000) at some company and years of prior working experience in the same field. The sample of 10 employees was taken and the following data is reported. years of experience starting salary in $1,000) 2 50 15 18 20 Part 1: Use the formulas provided on the 3rd formula sheet to compute the...
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Let Y and X be weekly excess returns of a US firm and S&P 500 index for the past two years, respectively. The regression output for this data set in shown in the table below: (You can actually download similar data from http://finance.yahoo.com/) Variable Coefficient Intercept -0.008194 1.690067 t-value p-value 0.0282 12.392<2×10-16 s.e. 0.003680-2.22 7 0.136379 n 103 R 0.6033 s 0.03734 Suppose that the model satisfies the usual SLR model assumptions, and that the SST for Y is 0.355....
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