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. Principal's Rating 96 52 75 80 62 68 94 Salary ($ Thousands) 51.1 43.6 39.3 53 48.6 55 52 46.8 58.6 41.7 35.7 40.6 61.8 46.7 48.4 43.6 51.8 40.7 42.8 42.9 Years of Experience 8. Master's Degree 1 15 1 11 14 1 64 54 57 66 63 92 64 88 57 63 74 78 70 1 22 1 23 17 1 12 1 14 8. Click here for the Excel Data File, Data file should open in a new browswer window. Select "File" then "Save As" to download the file to your computer and be able to use it in Excel. a. What is the question being asked? b. Label your dependent variable: y =

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Please assist and answer questions a, b, c, d, e, f, g, h

Thank you. 

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 (O = No, 1
= Yes). A random sample of 20 teachers resulted in the following data.
Years of
Experience
Principal's
Rating
96
52
75
80
62
Salary ($
Thousands)
Master's
Degree
51.1
8
43.6
39.3
53
48.6
55
52
46.8
58.6
41.7
35.7
40.6
61.8
46.7
2
15
1
11
14
68
1
94
64
54
57
66
63
92
64
88
7
1
22
1
1
1
23
17
12
48.4
43.6
51.8
40.7
14
57
63
1
74
78
70
42.8
42.9
Click here for the Excel Data File. Data file should open in a new browswer window. Select "File" then "Save As" to download the file to
your computer and be able to use it in Excel.
a. What is the question being asked?
b. Label your dependent variable: y =
Transcribed Image Text: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 (O = No, 1 = Yes). A random sample of 20 teachers resulted in the following data. Years of Experience Principal's Rating 96 52 75 80 62 Salary ($ Thousands) Master's Degree 51.1 8 43.6 39.3 53 48.6 55 52 46.8 58.6 41.7 35.7 40.6 61.8 46.7 2 15 1 11 14 68 1 94 64 54 57 66 63 92 64 88 7 1 22 1 1 1 23 17 12 48.4 43.6 51.8 40.7 14 57 63 1 74 78 70 42.8 42.9 Click here for the Excel Data File. Data file should open in a new browswer window. Select "File" then "Save As" to download the file to your computer and be able to use it in Excel. a. What is the question being asked? b. Label your dependent variable: y =
c. Label your independent variables:
X1 =
X2 =
X3 =
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.)
x3
x1 +
X2
f. What salary would you estimate for a teacher with 9 years of experience, a rating by the principal of 64, and who has a master's
degree?
Salary:
(Round to the nearest dollar)
g. What does the value of the Coefficient of Determination tell you about the data?
h. Run a diagnosis to deterime if the model is significant at a = 0.05. (Round test statistic to 2 decimal places and p-value to 4
decimal places)
h1. Select the correct hypothesis statements.
Ho: (Click to select)
H1: (Click to select)
h2. Test Statistic:
Һ3: р-value:
h4: What is your decision regarding the null hypothesis?.
(Click to select)
h5: What does this mean?
Transcribed Image Text:c. Label your independent variables: X1 = X2 = X3 = 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.) x3 x1 + X2 f. What salary would you estimate for a teacher with 9 years of experience, a rating by the principal of 64, and who has a master's degree? Salary: (Round to the nearest dollar) g. What does the value of the Coefficient of Determination tell you about the data? h. Run a diagnosis to deterime if the model is significant at a = 0.05. (Round test statistic to 2 decimal places and p-value to 4 decimal places) h1. Select the correct hypothesis statements. Ho: (Click to select) H1: (Click to select) h2. Test Statistic: Һ3: р-value: h4: What is your decision regarding the null hypothesis?. (Click to select) h5: What does this mean?
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