A company manager is interested in the relationship between x = number of years that an employee has been with the company and y = the employee's annual salary (in thousands of dollars). The following MINITAB output is from a regression analysis for predicting y from x for n = 15 data points. What is the least squares regression equation?
= ______________
What are the least squares estimates of the slope?
______________
What are the least squares estimates of the y-intercept?
______________
Interpret the estimated slope.
________________________________________________________
Interpret the estimated y-intercept.
______________
What is the value of ?
______________
What is the value of the sum of squares for error (SSE)?
______________
Find the coefficient of determination.
______________
Interpret the coefficient of determination.
________________________________________________________
Does a linear relationship exist between x and y? Test using = 0.05.
What is the p-value?
______________
Conclude:
______________
A linear relationship ______________ exist between x and y.
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