Question details

For 6-12, refer to the attached regression output
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For 6-12, refer to the attached regression output

For 6-12, refer to the attached regression output.  Here we are using years of experience, college GPA, and company entrance score to predict employee salaries at a local firm.

 

We would conclude that the overall model (using all three explanatory variables) is statistically significant at the .05 level.  (2)

 

    1. true
    2. false

 

None of the explanatory variables are useful predictors.  (2)

 

true

false

 

The most useful predictor in the presence of the other explanatory variables is __________.  (2)

 

Multicollinearity is  (3)

 

severe.

mild.

nonexistent.

 

Which of the following combinations would be expected to yield the highest pay?  Values are years, GPA, and score.  (2)

 

5, 3.7, 80

7, 3.2, 85

8, 3.6, 85

5, 3.8, 85

 

Regression Output 

 

 

 

SUMMARY OUTPUT 1

       
           

Regression Statistics

       

Multiple R

0.686507

       

R Square

0.4712919

       

Adjusted R Square

0.3655502

       

Standard Error

18.962716

       

Observations

19

       
           

ANOVA

         
 

df

SS

MS

F

Significance F

Regression

3

4808.020459

1602.673

4.457014

0.019857133

Residual

15

5393.769015

359.5846

   

Total

18

10201.78947

     
           
 

Coefficients

Standard Error

t Stat

P-value

 

Intercept

-59.69295

38.48117376

-1.55122

0.141687

 

Years

-0.510186

1.100900645

-0.46343

0.649712

 

GPA

24.510667

12.31973076

1.989546

0.065194

 

Score

0.7600061

0.295486746

2.572048

0.021248

 
           
           
           
 

Correlation Matrix

     
           
   

Salary

Years

GPA

Score

 

Salary

1

     
 

Years

0.192517816

1

   
 

GPA

0.484367567

0.280138

1

 
 

Score

0.575980821

0.341399

0.226652

1

           
           
           

SUMMARY OUTPUT 2

       
           

Regression Statistics

       

Multiple R

0.5759808

       

R Square

0.3317539

       

Adjusted R Square

0.2924453

       

Standard Error

20.025434

       

Observations

19

       
           

ANOVA

         
 

df

SS

MS

F

Significance F

Regression

1

3384.483506

3384.484

8.43973

0.009855012

Residual

17

6817.305968

401.018

   

Total

18

10201.78947

     
           
 

Coefficients

Standard Error

t Stat

P-value

 

Intercept

8.103183

18.48029361

0.438477

0.666562

 

Score

0.8430371

0.290189996

2.905121

0.009855

Available solutions