3 STAT Questions(EXCEL)
Years of Experience/ Salary
8 $67,000
8 $92,000
16 $135,000
12 $74,000
7 $95,000
4 $40,000
6 $55,000
5 $63,000
13 $142,000
11 $98,000
1. Use the above data
a. Regression equation
b. Estimate the salary of an individual with 10 years
c. Interpret the regression coefficients.
2. Use the above data
a. Standard error in the estimate of Y
b. Plot the upper and lower limits of the 95% prediction interval in a scatter plot with the original data and the regression line
c. The upper and lower limits of a 95% prediction interval for an individual with 12 years of experience
3. The HR department is developing a model to estimate the market rate of salaries based on a random sample of financial analysts who responded to an anonymous survey. The following table contains the results from the survey. (Full question in files)
EXCEL Required
