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Use Data Analysis in excel A person's salary is largely determined by education level and work experience. Here is data from 8 workers. Annual Income Education after High School (in Years), x, Work Experience (in Years), x, (in Thousands of Dollars), y 2 35 7 41 3 38 45 65 89 6. 4 95 8 4 115 a. Compute R square b. Determine the multiple regression equation С. Estimate the salary if a worker has 5year education (after high school) and 7 years work experience

Use Data Analysis in excel A person's salary is largely determined by education level and work experience. Here is data from 8 workers. Annual Income Education after High School (in Years), x, Work Experience (in Years), x, (in Thousands of Dollars), y 2 35 7 41 3 38 45 65 89 6. 4 95 8 4 115 a. Compute R square b. Determine the multiple regression equation С. Estimate the salary if a worker has 5year education (after high school) and 7 years work experience

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
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Conduct your answers in excel.

**Multiple Regression Analysis** **Use Data Analysis in Excel** A person’s salary is largely determined by education level and work experience. Here is data from 8 workers. | Education after High School (in Years), \(x_1\) | Work Experience (in Years), \(x_2\) | Annual Income (in Thousands of Dollars), \(y\) | |------------------------------------------------|------------------------------------|----------------------------------------------| | 2 | 8 | 35 | | 3 | 7 | 41 | | 3 | 5 | 38 | | 4 | 6 | 45 | | 5 | 6 | 65 | | 6 | 5 | 89 | | 6 | 4 | 95 | | 8 | 4 | 115 | **Tasks:** a. Compute R square b. Determine the multiple regression equation c. Estimate the salary if a worker has 5-year education (after high school) and 7 years work experience This table presents data that can be used to perform a multiple regression analysis to understand the relationship between education, work experience, and annual income. The columns are: 1. **Education after High School (in Years), \(x_1\):** Represents the number of years an individual spent in education after high school. 2. **Work Experience (in Years), \(x_2\):** Indicates the total years of work experience. 3. **Annual Income (in Thousands of Dollars), \(y\):** Depicts the annual income earned by the individual, measured in thousands of dollars. **Instructions:** Use Excel to carry out the following computations and analyses based on the dataset provided.
Transcribed Image Text:**Multiple Regression Analysis** **Use Data Analysis in Excel** A person’s salary is largely determined by education level and work experience. Here is data from 8 workers. | Education after High School (in Years), \(x_1\) | Work Experience (in Years), \(x_2\) | Annual Income (in Thousands of Dollars), \(y\) | |------------------------------------------------|------------------------------------|----------------------------------------------| | 2 | 8 | 35 | | 3 | 7 | 41 | | 3 | 5 | 38 | | 4 | 6 | 45 | | 5 | 6 | 65 | | 6 | 5 | 89 | | 6 | 4 | 95 | | 8 | 4 | 115 | **Tasks:** a. Compute R square b. Determine the multiple regression equation c. Estimate the salary if a worker has 5-year education (after high school) and 7 years work experience This table presents data that can be used to perform a multiple regression analysis to understand the relationship between education, work experience, and annual income. The columns are: 1. **Education after High School (in Years), \(x_1\):** Represents the number of years an individual spent in education after high school. 2. **Work Experience (in Years), \(x_2\):** Indicates the total years of work experience. 3. **Annual Income (in Thousands of Dollars), \(y\):** Depicts the annual income earned by the individual, measured in thousands of dollars. **Instructions:** Use Excel to carry out the following computations and analyses based on the dataset provided.
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