Use the Data Given Below to Answer the Following Question(s)

question 35

Essay

Use the data given below to answer the following question(s).
Following is an extract from a firm's database detailing the number of hours spent on the job by employees and their corresponding pay. (Note: Assume a level of significance of 0.05 wherever necessary.) $$\begin{array} { | l | l | } \hline \begin{array} { l } \text { Hours spent } \\\text { on the job }\end{array} & \text { Salary (\$) } \\\hline 4 & 340 \\\hline 12 & 850 \\\hline 7 & 570 \\\hline 5 & 470 \\\hline 11 & 820 \\\hline 8 & 610 \\\hline 9 & 630 \\\hline 13 & 900 \\\hline 10 & 800 \\\hline 6 & 480 \\\hline\end{array}$$
-Is the hours spent on the job a statistically significant variable in explaining the variation in pay of employees? (Hint: Use Regression tool).

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Definitions:

Encoding Specificity Principle

The principle that recall is most effective when information available at the time of recall is similar to the information available at the time of encoding.

Depth-Of-Processing Principle

A concept suggesting that information that is thought about at a deeper, more meaningful level is more likely to be remembered than information processed at a superficial level.

State-Dependent Memory

The phenomenon wherein information learned in a particular state of mind is more readily recalled when in the same state.

Levels-of-processing

A theory suggesting that the depth of mental processing affects memory; deeper processing leads to better recall.