1. Twenty-one executives in a large corporation were randomly selected

1. Twenty-one executives in a large corporation were randomly selected

1. Twenty-one executives in a large corporation were randomly selected for a study in which several factors were examined to determine their effect on annual salary (expressed in $000s). The factors selected were age (in years), seniority (in years), years of college, number of company divisions they had been exposed to and the level of their responsibility. A regression analysis was performed using a popular spreadsheet with the following results:Constant 23.00371

Std Error of Y estimate Se 2.919

R2 0.914


Coefs. -0.031 0.381 1.452 -0.089 3.554

Std. errors 0.183 0.158 0.387 0.541 0.833a. What is the dependent variable in this situation? ________________ (2 pts)b. Write out the multiple regression equation. Use the names contained in the printout for all the variables. (4 pts)c. Which of the following has the most influence on salary….20 years of seniority, 5 years of college, or attaining 55 years of age? (5 pts)d. What is the effect on salary of an increase of one level of responsibility if the other variables are held constant? (3 pts)e. What proportion of the variation in salary is accounted for by the set of independent variables? (3 pts)f. What is the value of the denominator in the calculation of the standard error of the estimate? (3 pts)g. If a GLOBAL test is used in this setting (alpha = 0.05), what is the CRITICAL value? (4 pts)h. What is the CALCULATED value that you would compare to the answer you offered in part (g)? (4

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