Mike Jimenez is president of the teachers’ union for Preston School District. In preparing for upcoming negotiations, he would like to investigate the salary structure of classroom teachers in the district. He believes there are three factors that affect a teacher’s salary: years of experience, a rating of teaching effectiveness given by the principal, and whether the teacher has a master’s degree (0 = No, 1 = Yes). A random sample of 20 teachers resulted in the following data. Salary ($ Thousands) Years of Experience Principal's Rating Master's Degree 51.1 8 95 0 43.6 5 84 0 39.3 2 100 1 53 15 51 1 48.6 11 53 0 55 14 81 1 52 9 85 0 46.8 7 52 1 58.6 22 68 1 41.7 3 97 1 35.7 1 83 0 40.6 5 71 0 61.8 23 77 1 46.7 17 61 0 48.4 12 83 1 43.6 14 71 0 51.8 8 59 1 40.7 4 93 0 42.8 2 58 1 42.9 8 90 0 d. Develop a correlation matrix and state the correlation for each independent variable as it relates to the dependent variable. (Round all correlation coefficients to 4 decimal places.) x1: r = x2: r = x3: r = e. Compute and state the regression equation: (Round the intercept and the regression coefficients to 2 decimal places.) ŷ = ______ + _______ x1 + ______ x2 + _______ x3 f. What salary would you estimate for a teacher with 6 years of experience, a rating by the principal of 71, and who has a master's degree? (Round to the nearest dollar) Salary:
Mike Jimenez is president of the teachers’ union for Preston School District. In preparing for upcoming negotiations, he would like to investigate the salary structure of classroom teachers in the district. He believes there are three factors that affect a teacher’s salary: years of experience, a rating of teaching effectiveness given by the principal, and whether the teacher has a master’s degree (0 = No, 1 = Yes). A random sample of 20 teachers resulted in the following data.
| Salary ($ Thousands) | Years of Experience | Principal's Rating | Master's Degree |
| 51.1 | 8 | 95 | 0 |
| 43.6 | 5 | 84 | 0 |
| 39.3 | 2 | 100 | 1 |
| 53 | 15 | 51 | 1 |
| 48.6 | 11 | 53 | 0 |
| 55 | 14 | 81 | 1 |
| 52 | 9 | 85 | 0 |
| 46.8 | 7 | 52 | 1 |
| 58.6 | 22 | 68 | 1 |
| 41.7 | 3 | 97 | 1 |
| 35.7 | 1 | 83 | 0 |
| 40.6 | 5 | 71 | 0 |
| 61.8 | 23 | 77 | 1 |
| 46.7 | 17 | 61 | 0 |
| 48.4 | 12 | 83 | 1 |
| 43.6 | 14 | 71 | 0 |
| 51.8 | 8 | 59 | 1 |
| 40.7 | 4 | 93 | 0 |
| 42.8 | 2 | 58 | 1 |
| 42.9 | 8 | 90 | 0 |
d. Develop a
x1: r =
x2: r =
x3: r =
e. Compute and state the regression equation: (Round the intercept and the regression coefficients to 2 decimal places.)
ŷ = ______ + _______ x1 + ______ x2 + _______ x3
f. What salary would you estimate for a teacher with 6 years of experience, a rating by the principal of 71, and who has a master's degree? (Round to the nearest dollar)
Salary:
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 3 images
