week 5 bus308
Score: | Week 5 | Correlation and Regression | |||||||||||||||||||||||||
<1 point> | 1. | Create a correlation table for the variables in our data set. (Use analysis ToolPak or StatPlus:mac LE function Correlation.) | |||||||||||||||||||||||||
a. | Reviewing the data levels from week 1, what variables can be used in a Pearson’s Correlation table (which is what Excel produces)? | ||||||||||||||||||||||||||
b. Place table here (C8): | |||||||||||||||||||||||||||
c. | Using r = approximately .28 as the signicant r value (at p = 0.05) for a correlation between 50 values, what variables are | ||||||||||||||||||||||||||
significantly related to Salary? | |||||||||||||||||||||||||||
To compa? | |||||||||||||||||||||||||||
d. | Looking at the above correlations – both significant or not – are there any surprises -by that I | ||||||||||||||||||||||||||
mean any relationships you expected to be meaningful and are not and vice-versa? | |||||||||||||||||||||||||||
e. | Does this help us answer our equal pay for equal work question? | ||||||||||||||||||||||||||
<1 point> | 2 | Below is a regression analysis for salary being predicted/explained by the other variables in our sample (Midpoint, | |||||||||||||||||||||||||
age, performance rating, service, gender, and degree variables. (Note: since salary and compa are different ways of | |||||||||||||||||||||||||||
expressing an employee’s salary, we do not want to have both used in the same regression.) | |||||||||||||||||||||||||||
Plase interpret the findings. | |||||||||||||||||||||||||||
Ho: The regression equation is not significant. | |||||||||||||||||||||||||||
Ha: The regression equation is significant. | |||||||||||||||||||||||||||
Ho: The regression coefficient for each variable is not significant | Note: technically we have one for each input variable. | ||||||||||||||||||||||||||
Ha: The regression coefficient for each variable is significant | Listing it this way to save space. | ||||||||||||||||||||||||||
Sal | |||||||||||||||||||||||||||
SUMMARY OUTPUT | |||||||||||||||||||||||||||
Regression Statistics | |||||||||||||||||||||||||||
Multiple R | 0.9915591 | ||||||||||||||||||||||||||
R Square | 0.9831894 | ||||||||||||||||||||||||||
Adjusted R Square | 0.9808437 | ||||||||||||||||||||||||||
Standard Error | 2.6575926 | ||||||||||||||||||||||||||
Observations | 50 | ||||||||||||||||||||||||||
ANOVA | &
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