Question 4. Fatima also wants to reward the sales manager of the branch that has performed the best during the New Year week. She has selected the top three branches with the highest sales, and will conduct Analysis of Variance (ANOVA) on the data set.
What will an ANOVA help her decide?
Branch Sales (AED '000) |
|||||
Branch 1 |
43 |
39 |
55 |
56 |
73 |
Branch 2 |
55 |
58 |
66 |
79 |
82 |
Branch 3 |
61 |
66 |
85 |
86 |
91 |
Question 6:Fatima is working on the compensation package of employees, and is considering the following factors that may influence an employee’s salary.
Identify the independent and dependent variables.
Question 7. The results of the correlation analysis in the Correlation Matrix these variables are depicted below. Use information in the table to discuss the strength and nature of relationship between the four variables.
Training |
Performance |
Years of Service |
Annual Salary |
|
Training |
1 |
|||
Performance |
0.016 |
1 |
||
Years of Service |
0.377 |
-0.268 |
1 |
|
Annual Salary |
0.597 |
0.709 |
0.286 |
1 |
Question 8. Results of a multiple linear regression on these four variables are depicted in the table below.
Multiple Linear Regression: Summary Output |
|
Coefficients |
|
Intercept |
-35.2 |
Training |
2.5 |
Performance Score |
8.2 |
Years of Service |
1.1 |
a) Use this information to develop and interpret a Regression Equation.
b) Estimate the value of the dependent variable when an employee has attended 5 hours of training, receives a performance evaluation score of 3.6, and has been working for the company for 9 years.
Question 9. Results of the three goodness of test measures is given in the table below:
Goodness of Fit Tests |
|||||
R Square |
0.93 |
ANOVA |
F |
Sig F |
|
25.431 |
0.0008 |
||||
Coefficients |
St.Error |
t Stat |
P-value |
||
Intercept |
-35.25 |
7.05 |
-4.996 |
0.002 |
|
Training |
2.47 |
0.64 |
3.851 |
0.008 |
|
Performance |
8.20 |
1.20 |
6.824 |
0.000 |
|
Years of Service |
1.1 |
0.42 |
2.592 |
0.041 |
a) Do the independent variables explain a reasonable amount of variation in the dependent variable? Justify.
b) Can any of the independent variables be dropped from the model? Why or why not?
c) Use information in the table to comment on the validity of the model.
Question 10. What recommendation would you provide to Fatima for building the new compensation package?
4
ANOVA | ||||||
Source of Variation | SS | df | MS | F | P-value | F crit |
Between Groups | 1533.733 | 2 | 766.8667 | 4.570123 | 0.033452 | 3.885294 |
Within Groups | 2013.6 | 12 | 167.8 | |||
Total | 3547.333 | 14 |
Since P-value is less than 0.05 we have enough evidence to conclude that the at least two Brand means are different.
Question 4. Fatima also wants to reward the sales manager of the branch that has performed the best during the New Year...
Question 4. Fatima also wants to reward the sales manager of the branch that has performed the best during the New Year week. She has selected the top three branches with the highest sales, and will conduct Analysis of Variance (ANOVA) on the data set. What will an ANOVA help her decide? Branch Sales (AED '000) Branch 1 43 39 55 56 73 Branch 2 55 58 66 79 82 Branch 3 61 66 85 86 91 Question 6:Fatima is...
Question 9. Results of the three goodness of test measures is given in the table below: Goodness of Fit Tests R Square 0.93 ANOVA F Sig F 25.431 0.0008 Coefficients St.Error t Stat P-value Intercept -35.25 7.05 -4.996 0.002 Training 2.47 0.64 3.851 0.008 Performance 8.20 1.20 6.824 0.000 Years of Service 1.1 0.42 2.592 0.041 a) Do the independent variables explain a reasonable amount of variation in the dependent variable? Justify. b) Can any of the independent variables be...
Question 8. Results of a multiple linear regression on these four variables are depicted in the table below. Multiple Linear Regression: Summary Output Coefficients Intercept -35.2 Training 2.5 Performance Score 8.2 Years of Service 1.1 a) Use this information to develop and interpret a Regression Equation. b) Estimate the value of the dependent variable when an employee has attended 5 hours of training, receives a performance evaluation score of 3.6, and has been working for the company for 9 years.
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