Are monthly salary and service length related? The table below - with squared va

Question

Are monthly salary and service length related? The table below - with squared values and sums given - may help you in the calculations. Perform the appropriate test. c. If you conclude that salary and service length are related, develop the regression equation that shows the relationship between a person's salary and his/her time of service in the company. d. Estimate the salary for the person if his/her length of service is 100 months. How about the salary for a person who has been working for 10 years?

Explanation / Answer

c).

Regression line is y=a+bx

n=32

b =rac{sum xy - rac{sum x sum y}{n}}{(sum x^2-rac{(sum x)^2}{n})}

b =rac{ 5728962.00 - rac{ 3083* 55153}{32}}{( 322655.00-rac{( 3083)^2}{32})}

=16.2060

a= ar y - b* ar x

= 55153/32- 16.2060* 3083/32 = 162.1827

The estimated regression line is

y = 162.1827+16.2030*x

d).

when x=100,

y =162.1827+16.2030*100

=1782.483

when x= 10 years, x=120 months,

y =162.1827+16.2030*120

=2106.543

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