Concept explainers
Thompson Photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualifications needed by an operator. Is age a factor? Is the length of service as an operator (in years) important? In order to explore further the factors needed to estimate performance on the new processing machines, four variables were listed:
Performance on the new machine is designated y.
Thirty employees were selected at random. Data were collected for each, and their performances on the new machines were recorded. A few results are:
The equation is:
- a. What is this equation called?
- b. How many dependent variables are there? Independent variables?
- c. What is the number 0.286 called?
- d. As age increases by one year, how much does estimated performance on the new machine increase?
- e. Carl Knox applied for a job at Photo Works. He has been in the business for 6 years and scored 280 on the mechanical aptitude test. Carl’s prior on-the-job performance rating is 97, and he is 35 years old. Estimate Carl’s performance on the new machine.
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Statistical Techniques in Business and Economics
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