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The human resources department at a firm developed a multiple regression to predict the success of candidates for available positions. Drawing records of new hires from five years ago, analysts regressed current annual salary on age at the time of hire and score on a test given to new hires. The path diagram below summarizes the fitted model. Age is coded in years, the test is scored from 1 to 20, and annual salary is in thousands of dollars ($m). Complete parts a through d. 7 points/ year Age 4 years/point Test Score 7 Sm/year Salary 4 Sm/point (a) Write down the equation for the multiple regression model. Est. Salary bo + 7 Age + 4 Test Score (b) Which is larger: the direct or indirect effect of test score? direct indirect (c) Find the marginal slope of salary on test score. marginal slope = 32 $m/point (d) If you were a new applicant and could take a special course that in a week's time could raise your test score by 3 points, would the course be worth the $48,000 being charged? Which slope is relevant: marginal or partial? OA. It is worth taking if you plan on staying 4 years. OB. It is worth taking if you plan on staying 1.7 years. OC. It is never worth taking the course. OD. It is immediately worth it to take the course.

The human resources department at a firm developed a multiple regression to predict the success of candidates for available positions. Drawing records of new hires from five years ago, analysts regressed current annual salary on age at the time of hire and score on a test given to new hires. The path diagram below summarizes the fitted model. Age is coded in years, the test is scored from 1 to 20, and annual salary is in thousands of dollars ($m). Complete parts a through d. 7 points/ year Age 4 years/point Test Score 7 Sm/year Salary 4 Sm/point (a) Write down the equation for the multiple regression model. Est. Salary bo + 7 Age + 4 Test Score (b) Which is larger: the direct or indirect effect of test score? direct indirect (c) Find the marginal slope of salary on test score. marginal slope = 32 $m/point (d) If you were a new applicant and could take a special course that in a week's time could raise your test score by 3 points, would the course be worth the $48,000 being charged? Which slope is relevant: marginal or partial? OA. It is worth taking if you plan on staying 4 years. OB. It is worth taking if you plan on staying 1.7 years. OC. It is never worth taking the course. OD. It is immediately worth it to take the course.

MATLAB: An Introduction with Applications
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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The human resources department at a firm developed a multiple regression to predict the success of candidates for available positions. Drawing records of new hires from five years ago, analysts regressed current annual salary on age at the time of hire and score on a test given to new hires. The path diagram below summarizes the fitted model. Age is coded in years, the test is scored from 1 to 20, and annual salary is in thousands of dollars ($m). Complete parts a through d. 7 points/ year Age 4 years/point Test Score 7 $m/year Salary 4 $m/point (a) Write down the equation for the multiple regression model. Est. Salary = bo + 7 Age + 4 Test Score (b) Which is larger: the direct or indirect effect of test score? direct indirect (c) Find the marginal slope of salary on test score. marginal slope = 32 $m/point (d) If you were a new applicant and could take a special course that in a week's time could raise your test score by 3 points, would the course be worth the $48,000 being charged? Which slope is relevant: marginal or partial? A. It is worth taking if you plan on staying 4 years. B. It is worth taking if you plan on staying 1.7 years. C. It is never worth taking the course. D. It is immediately worth it to take the course.
Transcribed Image Text:The human resources department at a firm developed a multiple regression to predict the success of candidates for available positions. Drawing records of new hires from five years ago, analysts regressed current annual salary on age at the time of hire and score on a test given to new hires. The path diagram below summarizes the fitted model. Age is coded in years, the test is scored from 1 to 20, and annual salary is in thousands of dollars ($m). Complete parts a through d. 7 points/ year Age 4 years/point Test Score 7 $m/year Salary 4 $m/point (a) Write down the equation for the multiple regression model. Est. Salary = bo + 7 Age + 4 Test Score (b) Which is larger: the direct or indirect effect of test score? direct indirect (c) Find the marginal slope of salary on test score. marginal slope = 32 $m/point (d) If you were a new applicant and could take a special course that in a week's time could raise your test score by 3 points, would the course be worth the $48,000 being charged? Which slope is relevant: marginal or partial? A. It is worth taking if you plan on staying 4 years. B. It is worth taking if you plan on staying 1.7 years. C. It is never worth taking the course. D. It is immediately worth it to take the course.
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