A manager at a local bank analyzed the relationship between monthly salary (y, in $) and length of service (x, measured in months) for 30 employees. She estimates the model:Salary = β0 + β1 Service + ε. The following ANOVA table summarizes a portion of the regression results. dfSSMSFRegression1555,420555,4207.64Residual271,962,87372,699 Total282,518,293 CoefficientsStandard Errort-statp-valueIntercept784.92322.252.440.02Service9.193.202.870.01 How much of the variation in Salary is unexplained by the sample regression equation? OO1%2%18.39%77.94%

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Answered: A manager at a local bank analyzed the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A manager at a local bank analyzed the relationship between monthly salary (y, in $) and length of service (x, measured in months) for 30 employees. She estimates the model:

Salary = β₀ + β₁ Service + ε. The following ANOVA table summarizes a portion of the regression results.

	df	SS	MS	F
Regression	1	555,420	555,420	7.64
Residual	27	1,962,873	72,699
Total	28	2,518,293
	Coefficients	Standard Error	t-stat	p-value
Intercept	784.92	322.25	2.44	0.02
Service	9.19	3.20	2.87	0.01