The new human resources vice president of WorldNet, Inc. wants to understand her company's salary policy for current 5,000 middle-level managers. She randomly sampled 71 managers and collected the information on their annual salary, gender, age, the number of years of employment at WorldNet, training level, department, and the number of individuals supervised by the specified manager. The collected data are given in the Data worksheet. Use the collected data to help her answer the following questions.

1. The VP wants to examine the relationship between annual salaries and the number of years these managers have worked at WorldNet. Use a simple regression model to predict the annual salary of a manager with 6 years employment.
2. Formulate a simple regression model to predict the annual salary of a manager supervising 9 subordinates.
3. Formulate a multiple regression model to predict the annual salary of a manager at the age of 45, with 6 years employment, and supervising 9 subordinates.
4. According to your multiple regression model in (3), which explanatory variable is the least statistically significant variable (i.e., irrelevant to a manager's annual salary)?
5. Formulate an appropriate multiple regression model that including all six explanatory variables to predict the annual salary of a manager who is male, at age 45, with 6 years employment, holding a B level training certificate, working in the engineering department, and currently supervising 9 subordinates.

Price: $10.05

Solution: The downloadable solution consists of 5 pages, 505 words.
Deliverable: Word Document