Question

A company HR analyst examines the relationship between years of experience and base salary ($) for a small company. The simple linear regression results are presented partially. Given the inherent relationship between reported items in the ANOA table, answer the following questions.

Summary Output

ANOVA (Table 1):

	Df	SS	MS	F	Significance
Regression		3540			0.01
Residual	17
Total		10865

Regression Results (Table 2):

	Coefficients	Standard Error	t-Stat	P-value
Intercept	49,740	8.83	5.63	0.00
Years of Experience	2,770	0.97	2.87	0.01

Q4.        For a new hire with 10 years of relevant experience, what salary the company may offer according to the company’s practice and the regression results? (rounded to whole dollars)

Answer 1