Salary
Data Was Collected from 40 Employees to Develop a Regression

question 3

Essay

Salary
Data was collected from 40 employees to develop a regression model to predict the employee's annual salary using their years with the company (Years),their starting salary (Starting),and their Gender (Male = 0,Female = 1).The results from Excel regression analysis are shown below:
$$\begin{array}{l}\begin{array} { l r } \hline { \text { RegresionSlalinlics } } \\\hline \text { Multiple R } & \text { 0.719714957 } \\\text { R Square } & \text { 0.516551199 } \\\text { Adjusted R Square } & 0.476253780 \\\text { Standard Errar } & 10515.63461 \\\text { Dbservations } & 40 \\\hline\end{array}\\\end{array}$$

$\text { ANOVA }$
$\begin{array}{lrrrrrr}\hline & \text { of } & & \text { SS } & \text { MS } & F & \text { Significance } F \\\hline \text { Regression } & 3 & 4334682510 & 1444894170 & 12.82165585 & 7.48476 \mathrm{E}-06 \\\text { Residual } & 36 & 4056901131 & 112691698.1 & & \\\text { Total } & 39 & 8391583641 & & & \\\hline\end{array}$

$\begin{array}{lcrrr}\hline & \text { Coefficients } &{\text { Standard Error }} & {t \text { Stat }} &{P \text {-value }} \\\hline \text { Intercept } & 27946.57894 & 4832.438706 & 5.783121245 & 1.35464 \mathrm{E}-06 \\\text { Years } & 1665.251558 & 425.0829092 & 3.917474737 & 0.000383313 \\\text { Starting } & 0.266374185 & 0.12610443 & 2.112330112 & 0.041661598 \\\text { Gender } & -3285.541043 & 5617.145392 & -0.584912943 & 0.56225464\end{array}$


-For a male employee with 5 years of experience and a starting salary of $30,000,what is the approximate 95% confidence interval for his annual salary?

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Definitions:

Ordinary Repairs

Regular maintenance or repairs to keep property and equipment functioning efficiently without extending its life or increasing its value substantially.

Rental Property

Real estate property that is leased or rented out to tenants, generating income for the owner.

Journal Entry

This term refers to the method used in bookkeeping to log transactions where each entry must have a corresponding and opposite entry within the financial records.

Income Beneficiary

An individual or entity entitled to receive income from a trust, estate, or other income-generating assets.