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 Financial industry is considered the base-level industry. Coefficients Standard Error t Stat P-Value Intercept 137193.448002137193.448002 6407.1621946407.162194 21.41251421.412514 0.0000000.000000 Experience 3007.5678003007.567800 247.058728247.058728 12.17349312.173493 0.0000000.000000 Health Care 11661.96750111661.967501 6818.1047396818.104739 1.7104411.710441 0.1077810.107781 Service −17452.317038−17452.317038 6656.6626316656.662631 −2.621782−2.621782 0.0192450.019245 Manufacturing 27645.00035227645.000352 6840.2705206840.270520 4.0415074.041507 0.0010660.001066 Copy Data According to the results, if a CEO in the Financial industry and a CEO in the Service industry both have 20 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places.
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 Financial industry is considered the base-level industry. Coefficients Standard Error t Stat P-Value Intercept 137193.448002137193.448002 6407.1621946407.162194 21.41251421.412514 0.0000000.000000 Experience 3007.5678003007.567800 247.058728247.058728 12.17349312.173493 0.0000000.000000 Health Care 11661.96750111661.967501 6818.1047396818.104739 1.7104411.710441 0.1077810.107781 Service −17452.317038−17452.317038 6656.6626316656.662631 −2.621782−2.621782 0.0192450.019245 Manufacturing 27645.00035227645.000352 6840.2705206840.270520 4.0415074.041507 0.0010660.001066 Copy Data According to the results, if a CEO in the Financial industry and a CEO in the Service industry both have 20 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
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 Financial industry is considered the base-level industry.
| Coefficients | Standard Error | t Stat | P-Value | |
|---|---|---|---|---|
| Intercept | 137193.448002137193.448002 | 6407.1621946407.162194 | 21.41251421.412514 | 0.0000000.000000 |
| Experience | 3007.5678003007.567800 | 247.058728247.058728 | 12.17349312.173493 | 0.0000000.000000 |
| Health Care | 11661.96750111661.967501 | 6818.1047396818.104739 | 1.7104411.710441 | 0.1077810.107781 |
| Service | −17452.317038−17452.317038 | 6656.6626316656.662631 | −2.621782−2.621782 | 0.0192450.019245 |
| Manufacturing | 27645.00035227645.000352 | 6840.2705206840.270520 | 4.0415074.041507 | 0.0010660.001066 |
Copy Data
According to the results, if a CEO in the Financial industry and a CEO in the Service industry both have 20 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places.
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