Concept explainers
Recall that in exercise 45 the personnel director for Electronics Associates developed the following estimated regression equation relating an employee’s score on a job satisfaction test to length of service and wage rate.
where
x1 = length of service (years)
x2 = wage rate (dollars)
y = job satisfaction test score (higher scores indicate greater job satisfaction)
A portion of the Excel Regression tool output follows.
- a. Complete the missing entries in this output.
- b. Using α = .05, test for overall significance.
- c. Did the estimated regression equation provide a good fit to the data? Explain.
- d. Use the t test and α = .05 to test H0: β1 = 0 and H0: β2 = 0.
45. The personnel director for Electronics Associates developed the following estimated regression equation relating an employee’s score on a job satisfaction test to his or her length of service and wage rate.
where
x1 = length of service (years)
x2 = wage rate (dollars)
y = job satisfaction test score (higher scores indicate greater job satisfaction)
- a. Interpret the coefficients in this estimated regression equation.
- b. Predict the job satisfaction test score for an employee who has four years of service and makes $6.50 per hour.
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Modern Business Statistics with Microsoft Excel (MindTap Course List)
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