Consider the following to answer the question(s) below:
In determining the best companies to work for, a number of variables are considered, including size, average annual pay, and turnover rate, etc. Moreover, employee surveys are conducted in order to assess aspects of the organization's culture, such as trust and openness to change. In an attempt to determine what affects turnover rate, a sample of 33 companies was randomly selected and data collected on the average annual bonus and turnover rate (%) for 2015. In addition, a questionnaire was administered to the employees of each company to arrive at a trust index (measured on a scale of 0-100). Below are the multiple regression results.
-How much of the variability in Turnover Rate is explained by the estimated multiple regression model?
A) 2.24%
B) 79.6%
C) 12.1%
D) 95.4%
E) 63.36%.

Question

Consider the following to answer the question(s) below:
In determining the best companies to work for, a number of variables are considered, including size, average annual pay, and turnover rate, etc. Moreover, employee surveys are conducted in order to assess aspects of the organization's culture, such as trust and openness to change. In an attempt to determine what affects turnover rate, a sample of 33 companies was randomly selected and data collected on the average annual bonus and turnover rate (%) for 2015. In addition, a questionnaire was administered to the employees of each company to arrive at a trust index (measured on a scale of 0-100). Below are the multiple regression results. 
-How much of the variability in Turnover Rate is explained by the estimated multiple regression model?
A) 2.24% 
B) 79.6% 
C) 12.1% 
D) 95.4% 
E) 63.36%.

Quizplus · Accepted Answer

The coefficient of determination (R-squared) for the estimated multiple regression model is 0.796, meaning that 79.6% of the variability in turnover rate can be explained by the independent variables in the model. Therefore, option B is the correct answer.

Consider the Following to Answer the Question(s) Below