The following multiple regression printout can be used to predict a person's average annual salary given his or her years of employment and number of years of education beyond high school. Regression Analysis: Salary Versus YrsEm, Educ Coefficients Term Coef SE Coef 1,771 Constant 23,171 YrsEm Educ 678 1,918 142 376 T-Value 13.08 4.77 5.10 P-Value 0.000 0.000 0.000 (a) Is the regression coefficient of education (Educ) statistically significant? (Use a = 0.05.) Given this output, the regression coefficient for education ---Select--- statistically significant. (b) Does the variable education belong in the model? Given this output, the variable education ---Select---belong in the model. (c) Given this output, which of the following is the correct interpretation for Education in this model? O An individual with 4 years of education beyond high school can expect an annual salary of $7,672. O The estimated change in the average value of annual salary of getting an additional year of education beyond high school is $1,918. O For each additional year of education beyond high school, the estimated change in the average annual salary is $1,918, controlling for years of employment. O For each additional year of education beyond high school, the estimated change in the average annual salary is $23,171, controlling for years of employment.
The following multiple regression printout can be used to predict a person's average annual salary given his or her years of employment and number of years of education beyond high school. Regression Analysis: Salary Versus YrsEm, Educ Coefficients Term Coef SE Coef 1,771 Constant 23,171 YrsEm Educ 678 1,918 142 376 T-Value 13.08 4.77 5.10 P-Value 0.000 0.000 0.000 (a) Is the regression coefficient of education (Educ) statistically significant? (Use a = 0.05.) Given this output, the regression coefficient for education ---Select--- statistically significant. (b) Does the variable education belong in the model? Given this output, the variable education ---Select---belong in the model. (c) Given this output, which of the following is the correct interpretation for Education in this model? O An individual with 4 years of education beyond high school can expect an annual salary of $7,672. O The estimated change in the average value of annual salary of getting an additional year of education beyond high school is $1,918. O For each additional year of education beyond high school, the estimated change in the average annual salary is $1,918, controlling for years of employment. O For each additional year of education beyond high school, the estimated change in the average annual salary is $23,171, controlling for years of employment.
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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Transcribed Image Text:The following multiple regression printout can be used to predict a person's average annual salary given his or her years of employment and number of years of education beyond high school.
Regression Analysis: Salary Versus YrsEm, Educ
Coefficients
Term
Constant
YrsEm
Educ
Coef
23,171
678
1,918
SE Coef
1,771
142
376
T-Value
13.08
4.77
5.10
P-Value
0.000
0.000
0.000
(a) Is the regression coefficient of education (Educ) statistically significant? (Use a = 0.05.)
Given this output, the regression coefficient for education ---Select--- statistically significant.
(b) Does the variable education belong in the model?
Given this output, the variable education ---Select---
--Select--- belong in the model.
(c) Given this output, which of the following is the correct interpretation for Education in this model?
O An individual with 4 years of education beyond high school can expect an annual salary of $7,672.
O The estimated change in the average value of annual salary of getting an additional year of education beyond high school is $1,918.
O For each additional year of education beyond high school, the estimated change in the average annual salary is $1,918, controlling for years of employment.
O For each additional year of education beyond high school, the estimated change in the average annual salary is $23,171, controlling for years of employment.
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