Data was collected to explain an employee’s annual income raise (expressed in $’s) based on the employee’s rating (on a scale of 1-20) *COMPLETE THE TABLE BELOW*
Extracted text: From + tablt (146.5+2,4nx 34.5)(14G,5* 84,4215) f) What is the predicted raise for someone with an 18 rating? the n y = - 20l 's + 1for5 (x) given x=18 y= - 201'5 t 146,5 (18) Y=2435;s g) What is the effect on “raise" of getting a 1 point higher rating? n=Pobserratior estimated reg equ Income raise : -201.5 +146, 5 rati h) What is the 95% confidence interval for the coefficient of rating? g) Interpretation of Slope AS the geHing of I point higrer rating then the predicted or estmated annual A I point higher rating the effect on raise raises Increases by $146.5 Incomes increases by 146.5. h) The 95% con fidence intera val of the cof rating is B't ta2, n-zxS. E (B') at a =G,5 ta/2, n-2=t0,025,6 =2,447 The 95 %. confidence Interaval for the Coefficent of rating is (62.0185,230,92.15 ) 4
Extracted text: 2) Data were collected to explain the an employee's annual income raise (expressed in $'s) based on the employee's rating (on a scale of 1-20) Complete the Table Below Regression Statistics Multiple R R Square Adjusted R Square Standard Error 0.709 Observations ANOVA Significance F 0.005394931 df S MS F Regression 726978.8 18.0 Residual 241771.2 Total Upper 95% Standard Coefficients Error t Stat P-value Lower 95% -201.5 543.6 0.724 Intercept rating 146.5 34.5 0.005 Based on the regression results, answer the following questions a) What is the estimated regression equation? est reg equ y = b0 +bx rea equation From table corre lation y =b0tblx b) What percentage of the variation in raises is explained by rating? R2 =726978. 89C8750 y:201.5+146,5 : 0.7504 x )co'/, 75.04% R2 = 55RSS T of the variatica in raiscs is &xplaired by rating c) What is the correlation between rating and raise? 0.86C3 %3D d) What is the standard error of the error term in the regression equation? Standard error =Nms E = N2411112 - 2c0, 13C G e) Is the coefficient on the variable "rating" statistically significantly different than 0 at the 1% level of significance? How do you know? it P valueclo's 0,ccs < 0.0i given (0,5=0,01 p -value =0,c05 object hg variable rating 50 the coef on the signficantly dif - 0.01 pos statisticaling than o gt 0.0i="" given="" (0,5="0,01" p="" -value="0,c05" object="" hg="" variable="" rating="" 50="" the="" coef="" on="" the="" signficantly="" dif="" -="" 0.01="" pos="" statisticaling="" than="" o="">