The human resources department at a firm developed a multiple regression to predict the success of candidates for available positions. Drawing records of new hires from five years ago, analysts regressed current annual salary on age at the time of hire and score on a test given to new hires. The path diagram below summarizes the fitted model. Age is coded in years, the test is scored from 1 to 20, and annual salary is in thousands of dollars ($m). Complete parts a through d. 7 points/ year Age 4 years/point Test Score 7 Sm/year Salary 4 Sm/point (a) Write down the equation for the multiple regression model. Est. Salary bo + 7 Age + 4 Test Score (b) Which is larger: the direct or indirect effect of test score? direct indirect (c) Find the marginal slope of salary on test score. marginal slope = 32 $m/point (d) If you were a new applicant and could take a special course that in a week's time could raise your test score by 3 points, would the course be worth the $48,000 being charged? Which slope is relevant: marginal or partial? OA. It is worth taking if you plan on staying 4 years. OB. It is worth taking if you plan on staying 1.7 years. OC. It is never worth taking the course. OD. It is immediately worth it to take the course.
The human resources department at a firm developed a multiple regression to predict the success of candidates for available positions. Drawing records of new hires from five years ago, analysts regressed current annual salary on age at the time of hire and score on a test given to new hires. The path diagram below summarizes the fitted model. Age is coded in years, the test is scored from 1 to 20, and annual salary is in thousands of dollars ($m). Complete parts a through d. 7 points/ year Age 4 years/point Test Score 7 Sm/year Salary 4 Sm/point (a) Write down the equation for the multiple regression model. Est. Salary bo + 7 Age + 4 Test Score (b) Which is larger: the direct or indirect effect of test score? direct indirect (c) Find the marginal slope of salary on test score. marginal slope = 32 $m/point (d) If you were a new applicant and could take a special course that in a week's time could raise your test score by 3 points, would the course be worth the $48,000 being charged? Which slope is relevant: marginal or partial? OA. It is worth taking if you plan on staying 4 years. OB. It is worth taking if you plan on staying 1.7 years. OC. It is never worth taking the course. OD. It is immediately worth it to take the course.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 91E
Related questions
Question
Transcribed Image Text:The human resources department at a firm developed a multiple regression to predict the
success of candidates for available positions. Drawing records of new hires from five years ago,
analysts regressed current annual salary on age at the time of hire and score on a test given to
new hires. The path diagram below summarizes the fitted model. Age is coded in years, the test
is scored from 1 to 20, and annual salary is in thousands of dollars ($m). Complete parts a
through d.
7 points/
year
Age
4 years/point
Test Score
7 $m/year
Salary
4 $m/point
(a) Write down the equation for the multiple regression model.
Est. Salary = bo + 7 Age + 4 Test Score
(b) Which is larger: the direct or indirect effect of test score?
direct
indirect
(c) Find the marginal slope of salary on test score.
marginal slope = 32 $m/point
(d) If you were a new applicant and could take a special course that in a week's time could
raise your test score by 3 points, would the course be worth the $48,000 being charged?
Which slope is relevant: marginal or partial?
A. It is worth taking if you plan on staying 4 years.
B. It is worth taking if you plan on staying 1.7 years.
C. It is never worth taking the course.
D. It is immediately worth it to take the course.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning