Question 6Consider the two regression models specified below, where salary measures an employee's salary,priorexp measures the employee's years of prior experience, yrrank captures the years in thecurrent rank, and admin indicates having experience in an administrative position.Model 1: salary = 8₁ +8₂priorexp+eModel 2: salary = 3₁+ B₂priorexp+ Bayrrank + Badmin + eAnalyze the results of the two models below.Model 1:SourceModelResidualTotalsalarypriorexp_consModel 2:SourceModelResidualTotalsalarypriorexpyrrankadmin_consSS2.3573e+091.3938e+111.4174e+11SSdfCoef. Std. Err.4.9146e+109.2594e+10376.3852 107.637346709.43 602.74252.3573e+091723 192783542724dfCoef. Std. Err..451.8466 91.558761099.184 60.4110810342.55 2607.25438060.14 682.3417c. The F-statistic equalsMS195773163tMStNumber of obsF(1, 723)Prob> FR-squaredAdj R-squaredRoot MSEP>|t|Number of obs RF(3, 721)Prob > FR-squaredAdj R-squaredRoot MSEP>|t|=a. In the F-test, the number of restrictions J equals[95% Conf. Interval]725Consider an F-test on the joint power of yrrank and admin. Fill in the blanks below.[95% Conf. Interval]725b. In the F-test, the degrees of freedom nk for the unrestricted model equals. (Keep 1 decimal place).d. (T/F) yrrank and admin are jointly significant factors for salary.

We have to consider the model containing both the independent variables 'yrrank' and ' admin'. So,…

Answered: Consider the two regression models…

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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