Twenty-one executives in a large corporation were randomly selected to study the effect of several factors on annual salary (expressed in $000s). the factors selected were age, seniority, years of college, number of company divisions they had been exposed to, and the level of their responsibility. the results of the regression analysis follow:
constant 23.00371 std error of the estimate 2.91933 r 0.91404 n 21 degrees of freedom 15
age seniority years of college #divisions level
regression coefficients _0.031 0.381 1.452 _0.089 3.554 coefficient std error 0.183 0.158 0.387 0.541 0.833
a) which independent variable has the most significant effect on annual salary?
b) what proportion of the total variation in salary is accounted for by the set of independent variables?
c) write out the multiple regression equation.
d) what is the estimated annual salary if the customer is 30 years old, no seniority, 4 years in college, 3 divisions and 4 levels?