We assume that our wages will increase as we gain experience and become more val

Question

We assume that our wages will increase as we gain experience and become more valuable to our employers. Wages also increase because of inflation. By examining a sample of employees at a given point in time, we can look at part of the picture. How does length of service (LOS) relate to wages? The data here (data30.dat) is the LOS in months and wages for 60 women who work in Indiana banks. Wages are yearly total income divided by the number of weeks worked. We have multiplied wages by a constant for reasons of confidentiality.

Data:

(b) Find the least-squares line. Summarize the significance test for the slope. What do you conclude?

(d) Give a 95% confidence interval for the slope.
( ____,____ )

worker wages los size 1 72.4624 28 Large 2 52.6957 73 Small 3 41.3616 88 Small 4 41.0549 56 Small 5 48.547 33 Large 6 58.4674 63 Small 7 48.0481 174 Large 8 46.2683 58 Large 9 39.7613 35 Large 10 65.6362 67 Small 11 52.6931 25 Large 12 40.6591 81 Small 13 41.1273 57 Small 14 65.0445 141 Large 15 53.511 179 Large 16 49.4541 30 Large 17 46.4704 47 Large 18 68.7631 31 Small 19 38.3626 59 Large 20 50.5966 43 Large 21 62.4912 122 Large 22 48.9651 119 Small 23 40.0241 85 Large 24 46.0147 146 Small 25 51.6763 79 Large 26 70.8592 20 Small 27 47.3175 48 Small 28 42.0609 69 Large 29 59.1366 45 Large 30 55.5768 56 Large 31 57.9325 20 Small 32 50.4906 140 Large 33 53.4353 120 Large 34 63.6564 85 Small 35 59.9355 59 Large 36 42.4354 52 Large 37 63.4164 90 Large 38 62.1654 64 Small 39 67.4196 117 Large 40 81.9877 19 Small 41 41.2617 98 Small 42 37.4261 36 Small 43 38.6522 141 Large 44 65.5603 112 Small 45 43.201 41 Large 46 72.3675 33 Small 47 55.2556 37 Large 48 54.605 58 Large 49 41.3045 23 Small 50 57.5686 77 Large 51 66.998 145 Large 52 64.2641 83 Large 53 67.1392 58 Large 54 40.9026 83 Small 55 55.6999 45 Small 56 88.8226 130 Large 57 52.2431 15 Small 58 71.2348 33 Large 59 49.2636 98 Small 60 41.003 58 Large

Explanation / Answer

b] Regression Analysis: wages versus los

Coefficients

Term Coef SE Coef T-Value P-Value
Constant 54.28 3.11 17.44 0.000
los -0.0009 0.0376 -0.02 0.981  

Regression Equation

wages = 54.28 - 0.0009 los

d] 95% confidence interval for the slope

95% CI     (50.4227, 58.0565)  

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.