Question: One area of concern at Universal Products is that executive pay rates are linked to seniority (as measured by the length of time with the company). Use seniority (x) to predict current salary (y). Use Table 1 (in the back of the test) to complete the following.

Note: Use Table 1 (in the back of the test) to answer the following.

1. (2) In the grid above draw the scatter plot for this problem. Be sure to title the graph and both axes.
2. (2) Determine the correlation coefficient and the coefficient of determination
3. (2) How would you describe the correlation between number of years employed and current salary?
4. (3) Determine the regression equation:
5. (3) Give two points on the regression line then draw the regression line on the grid above.
   Points and
6. (2) Use the regression equation to predict the salary for a executive who has been with the company for 17 years.
7. (2) Was the actual salary for the executive with 17 years’ experience more or less than expected (predicted)?
8. (2) Why can't you predict the salary for an executive who has been with the company for 30 years?

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