Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator (dummy) variables were created for each industry (1 if the CEO works in that industry, 0 otherwise). The Health Care industry is considered the base-level industry. Intercept Experience Service Manufacturing Financial Coefficients 136836.394384 3107.254776 14220.421704 -11039.841245 24889.144428 Answer How to enter your answer (opens in new window) P-Value Standard Error 4171.487707 0.000000 196.471253 0.000000 4631.390467 3.070443 0.007772 4674.529663 -2.361701 0.032138 4653.341884 5.348660 0.000081 t Stat 32.802780 15.815315 Copy Data According to the results, if a CEO in the Health Care industry and a CEO in the Service industry both have 24 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places. Tables Keypad Keyboard Shortcuts

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Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator
(dummy) variables were created for each industry (1 if the CEO works in that industry, 0 otherwise). The Health Care industry is considered the base-level industry.
Answer
How to enter your answer (opens in new window)
esc
©2022 Hawkes Learning
2
Intercept
Experience
Service
Manufacturing
Financial
#
According to the results, if a CEO in the Health Care industry and a CEO in the Service industry both have 24 years of experience, what is the estimated difference in
annual salary between the two CEOS? Enter your answer below, rounded to two decimal places.
3
$
4
Coefficients
136836.394384
3107.254776
14220.421704
-11039.841245
24889.144428
>
%
5
Standard Error
4171.487707
196.471253
4631.390467
4674.529663
4653.341884
A
6
MacBook Pro
The
&
7
P-Value
t Stat
32.802780
0.000000
15.815315 0.000000
3.070443
0.007772
-2.361701 0.032138
5.348660
0.000081
U
*
8
Hi
(
9
O
)
0
Tables
Copy Data
P
Keypad
Keyboard Shortcuts
Submit Answer
{
T
delete
Transcribed Image Text:Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator (dummy) variables were created for each industry (1 if the CEO works in that industry, 0 otherwise). The Health Care industry is considered the base-level industry. Answer How to enter your answer (opens in new window) esc ©2022 Hawkes Learning 2 Intercept Experience Service Manufacturing Financial # According to the results, if a CEO in the Health Care industry and a CEO in the Service industry both have 24 years of experience, what is the estimated difference in annual salary between the two CEOS? Enter your answer below, rounded to two decimal places. 3 $ 4 Coefficients 136836.394384 3107.254776 14220.421704 -11039.841245 24889.144428 > % 5 Standard Error 4171.487707 196.471253 4631.390467 4674.529663 4653.341884 A 6 MacBook Pro The & 7 P-Value t Stat 32.802780 0.000000 15.815315 0.000000 3.070443 0.007772 -2.361701 0.032138 5.348660 0.000081 U * 8 Hi ( 9 O ) 0 Tables Copy Data P Keypad Keyboard Shortcuts Submit Answer { T delete
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