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 Manufacturing industry is considered the base-level industry. Intercept Experience Health Care Service Financial Coefficients 133396.741143 3417.477093 226.614122 15262.361221 4382.039806 - 13879.298934 5267.791380 23101.606550 4630.919331 Standard Error 5008.325908 t Stat P-Value 26.634996 0.000000 15.080601 0.000000 3.482935 0.003338 -2.634747 0.018754 4.988557 0.000162 Copy Data According to the results, if a CEO in the Manufacturing industry and a CEO in the Service industry both have 3 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places. AnswerHow to enter your answer (opens in new window) 2 Points Keypad Keyboard Shortcuts

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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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 Manufacturing industry
is considered the base-level industry.
Intercept
Experience
Health Care
Service
Financial
Coefficients
133396.741143
3417.477093 226.614122
15262.361221 4382.039806
- 13879.298934 5267.791380
23101.606550 4630.919331
Standard Error
5008.325908
t Stat
P-Value
26.634996 0.000000
15.080601 0.000000
3.482935 0.003338
-2.634747 0.018754
4.988557 0.000162
Copy Data
According to the results, if a CEO in the Manufacturing industry and a CEO in the Service industry both have 3 years of experience, what is the
estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places.
AnswerHow to enter your answer (opens in new window) 2 Points
Keypad
Keyboard Shortcuts
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 Manufacturing industry is considered the base-level industry. Intercept Experience Health Care Service Financial Coefficients 133396.741143 3417.477093 226.614122 15262.361221 4382.039806 - 13879.298934 5267.791380 23101.606550 4630.919331 Standard Error 5008.325908 t Stat P-Value 26.634996 0.000000 15.080601 0.000000 3.482935 0.003338 -2.634747 0.018754 4.988557 0.000162 Copy Data According to the results, if a CEO in the Manufacturing industry and a CEO in the Service industry both have 3 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places. AnswerHow to enter your answer (opens in new window) 2 Points Keypad Keyboard Shortcuts
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