Question

The problem facing a manager is to assess the impact of factors on​ full-time (FT) job growth.​ Specifically, the manager is interest in the impact of total worldwide revenues and​full-time voluntary turnover on the number of​ full-time jobs added in a year. Data were collected from a sample of 20 ​"best companies to work​ for." The data includes the total number of​ full-time jobs added in the past​ year, total worldwide revenue​ (in $millions), and the​ full-time voluntary turnover​ (%).

Total FT Jobs Added		Total Worldwide Revenues​ ($millions)		FT Voluntary Turnover​ (%)
87		290.401		4.559
110		11,682.636		4.677
0		6,368.000		11.451
−207		2,321.000		5.844
207		46,100.000		5.728
86		696.200		5.233
124		396.196		10.076
2,402		24,400.000		11.673
492		2,600.000		5.673
326		4,150.000		11.294
281		382.000		11.221
193		1,144.000		5.351
1,357		27,706.772		3.346
1,925		31,510.000		11.221
−237		5,955.676		4.285
329		236.698		7.893
178		3,900.000		5.990
494		6,332.446		16.986
21		276.616		6.375
842		14,778.000		4.611

A. State the multiple regression equation. Let X1 represent the Total Worldwide Revenues​ ($millions) and let X2 represent the FT Voluntary Turnover (%).

B. Interpret the meanings of the slopes b1 and b2 in this problem

C. Interpret the meaning of the regression​ coefficient, b0.

D. What conclusions can you reach concerning​ full-time jobs​ added?

Answer 1

(a) The multiple regression equation is:

-289.2267 + 0.0317*x1 + 56.9568*x2

(b) Keeping the FT Voluntary Turnover constant and increasing the Total Worldwide Revenue by 1, the Total FT Jobs Added will increase by 0.0317.

Keeping the Total Worldwide Revenue constant and increasing the FT Voluntary Turnover by 1, the Total FT Jobs Added will increase by 56.9568.

(c) Keeping FT Voluntary Turnover and Total Worldwide Revenue constant, the Total FT Jobs Added will decrease by 289.2267, on average.

(d) There is a significant relationship between FT Voluntary Turnover and Total Worldwide Revenue and the Total FT Jobs Added.

	R²	0.433
	Adjusted R²	0.366
	R	0.658
	Std. Error	547.939
	n	20
	k	2
	Dep. Var.	Total FT Jobs Added
ANOVA table
Source	SS	df	MS	F	p-value
Regression	38,95,869.2544	2	19,47,934.6272	6.49	.0081
Residual	51,04,027.7456	17	3,00,236.9262
Total	89,99,897.0000	19
Regression output				confidence interval
variables	coefficients	std. error	t (df=17)	p-value	95% lower	95% upper
Intercept	-289.2267
Total Worldwide Revenues​	0.0317	0.0097	3.252	.0047	0.0111	0.0522
FT Voluntary Turnover	56.9568	34.9208	1.631	.1213	-16.7197	130.6333