Multiple regression analysis
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Develop a model to predict the employee's salary using the employee's age, years of experience, and gender. Since gender is nominal, use 0 for male and 1 for female. The "Multiple Regression" file has already been pre-loaded with the data, so you need only interpret the output. Complete the following tasks:
a) State the multiple regression equation.
b) Interpret the meaning of the slopes in the equation.
c) Predict the salary for a 40-year-old male employee with five years' experience.
d) At the .05 level of significance, determine whether each explanatory variable makes a significant contribution to the regression model.
e) Interpret the meaning of the r-squared.
f) Interpret your findings. What changes would you make to the model, given the results?
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Solution Summary
Step by step method for multiple regression analysis and interpretations of results is given in the answer.
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