Twenty-One Executives in a Large Corporation Were Randomly Selected for a Study

question 31

Short Answer

Twenty-one executives in a large corporation were randomly selected for a study to determine the effect of several factors on annual salary (expressed in $000's). The factors selected were age, seniority, years of college, number of company divisions they had been exposed to and the level of their responsibility. A regression analysis was performed using a popular spreadsheet program with the following regression output: Which independent variable has the most significant effect on annual salary?

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Definitions:

Criminal Law

The branch of law that defines and punishes wrongful actions committed against the public.

Legal Positivism

A school of legal thought centered on the assumption that there is no law higher than the laws created by a national government. Laws must be obeyed, even if they are unjust, to prevent anarchy.

Natural Law

The oldest school of legal thought, based on the belief that the legal system should reflect universal (“higher”) moral and ethical principles that are inherent in human nature.

Monetary Damages

Financial compensation awarded to an individual for loss or injury as a result of the violation of a legal right.