Question
In: Statistics and Probability
1. The following table shows the salaries of five managers and their years of work experience...
1. The following table shows the salaries of five managers and their years of work experience in managerial positions.
Years of Salary Experience ($1000s)
6 120
5 95
4 88
10 150
5 97
a. Use the method of Ordinary Least Square (OLS) to compute the slope
and intercept of sample regression line. You need to decide which
one is the dependent variable. In addition, write down the estimated
sample regression line.
b. Explain the meaning of each estimated coefficient (slope and
intercept) in the context of this problem and plain English.
c. Use a = 0.05 to check if β1 is statistically equal to or different from zero. What is your conclusion?
e. Use 1 -α = 0.99 to estimate a confidence interval for the salary of managers who have 8 years of experience.
Please explain steps to the best ability
Solutions
Expert Solution
ANOVA table
| Source | DF | Sum of Square | Mean Square | F Statistic | P-value |
|---|---|---|---|---|---|
| Regression (between ŷiand yi) |
1 | 2446.545455 | 2446.545455 | 55.834025 | 0.00496370 |
| Residual (between yiand ŷi) |
3 | 131.454545 | 43.818182 | ||
| Total(between yiand yi) | 4 | 2578.000000 | 644.500000 |
orchestra answered 2 years agoRelated Solutions
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Here is some data looking at people's salaries, their years of experience, and their average evaluation....
Here is some data looking at people's salaries, their years of
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into excel and run the following regression:
Salary = b0 + b1*Experience + b2*Eval
Salary
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Average evaluation
$ 56,744.30
5
6.85
$ 49,875.12
0
2.92
$ 64,629.44
6
1.69
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2
1.89
$ 56,130.69
8
4.93
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4
5.87
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0
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0
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2
4.2
True/false. The eval...
Description Here is some data looking at people's salaries, their years of experience, and their average...
Description
Here is some data looking at people's salaries, their years of
experience, and their average evaluation. Please cut and paste it
into excel and run the following regression:
Salary = b0 + b1*Experience + b2*Eval
Salary
Years of experience
Average evaluation
$ 56,744.30
5
6.85
$ 49,875.12
0
2.92
$ 64,629.44
6
1.69
$ 53,148.67
2
1.89
$ 56,130.69
8
4.93
$ 57,246.71
4
5.87
$ 51,097.09
0
5.09
$ 50,303.00
0
6.42
$ 56,212.37
2
4.2
Instructions
Question...
please show work on Question 3 2. The following table shows stock prices (May 1, 2017,...
please show work on Question 3
2. The following
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2017 forecast, 2018 forecast, and 2016 dividend for the three
chemical companies.
Stock Price
EPS, 2016 Actual
EPS, 2017
EPS, 2018
Dividend
DuPont
79.49
2.77
3.84
4.09
1.52
Dow
62.52
3.52
4.07
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1.84
PPG
109.46
5.82
6.26
6.92
1.56
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Price/Actual EPS
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6 - 11 43
12 - 17 32
18 – 23 80
24 - 29 120
30 - 35 75
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SELECTED U.S. INDUSTRIES FOR 2017
(Figures in $ billions)
Food
Pharmaceuticals
Oil
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Computers and
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Food
Stores
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$
679.9
$
440.5
$
815.0
$
229.0
$
487.2
Cost of goods sold
609.1
365.4
770.8
215.7
464.0
Balance Sheet Data:
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$
80.8
$
69.8
$
57.2
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24.3
$
40.9
Accounts...
The following table shows income statement and balance sheet data for five U.S. industries in 2017....
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Peripherals
Food
Stores
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Data:
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666.9
$
427.5
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802.0
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Cost of goods
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