Activity 4 Bus Stat
Please review the attached document.
Activity I – Your firm is interested in learning more about how its salaries relate to its employees’ tenure with the firm. It has collected the following data for
2
5
of its employees.
|
EMPLOYEE NUMBER |
TENURE (YEARS) |
SALARY ($) |
|||||||
|
1 |
15 |
5 3 , 9 0 8 |
|||||||
| 2 |
32 |
7 8,2 30 |
|||||||
| 3 |
1 4 |
55,1 6 4 |
|||||||
| 4 |
20 |
57,647 |
|||||||
| 5 |
25 |
63, 11 1 |
|||||||
| 6 |
54,991 |
||||||||
| 7 |
28 |
74,571 |
|||||||
| 8 | 30 |
73, 18 9 |
|||||||
| 9 |
71,859 |
||||||||
|
10 |
17 |
55,978 |
|||||||
| 11 |
61,676 |
||||||||
|
12 |
44,865 |
||||||||
|
13 |
21 |
64,676 |
|||||||
|
59,101 |
|||||||||
|
58,441 |
|||||||||
|
16 |
81,964 |
||||||||
|
29 |
76,373 |
||||||||
| 18 |
33 |
82,860 |
|||||||
|
19 |
27 |
70,019 |
|||||||
|
58,474 |
|||||||||
|
26 |
80,074 |
||||||||
|
22 |
45,594 |
||||||||
|
23 |
63,676 |
||||||||
|
24 |
68,444 |
||||||||
|
70,306 |
|||||||||
Plot these data points and describe using regression how salary relates to firm tenure for this group.
Activity II – The data attached contains information on customers’ ratings of your product (CustRate), on a scale of 1 to 100, along with demographic information. The demographic information includes: income (Inc), age (Age), education (Educ), and marital status (Marr). The last variable equals one if the respondent is married and zero otherwise. Assume the data-generating process can be written as:
CustRate
i=α+β1Inc
i+β2Age
i+β3Educ
i+β4Marr
i+U
i.
a. Test the hypothesis that income has no impact on customer rating, using a confidence level of 95%. Be sure to provide the reasoning behind your result.
b. Test the hypothesis that β2=0.05, using a confidence level of 90%. Be sure to provide the reasoning behind your result.
c. Build a 95% confidence interval for the impact of education on customer rating. Be sure to provide the reasoning for your result.
d. Build a 95% confidence interval for the impact of being married on customer rating. Be sure to provide the reasoning for your result.
e. Predict the change in customer rating if a customer’s income increases by $10,000, with no change in age, education, or marital status.
Sheet
1
4
2
0
1
1
2
3
13
0
13
0
0
18
1
18
40
1
958
0
9
41
1
2
9
0
43
18
0
3
16
0
16
0
76
0
7
35
14
1
30
55
19
1
350
55
16
0
18
1
6
76
1
46
13
1
1
45
13
0
14
1
60
80
16
0
32
11
0
44
16
1
39
19
1
47
10
1
479
47
16
1
8
55
10
0
11
1
283
41
14
0
56
13
0
190
42
10
0
82
15
1
12
0
79
12
1
10
1
70
17
1
71
20
0
73
11
1
73
11
0
77
16
1
65
17
0
62
13
0
60
10
0
13
0
981
31
18
0
34
11
0
61
10
1
71
11
0
924
47
16
0
34
14
0
41
19
0
83
16
1
9
50
20
1
32
17
1
46
20
0
40
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1
52
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0
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1
81
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0
37
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0
67
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1
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0
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0
79
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1
69
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1
75
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0
54
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84
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1
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1
38
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0
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1
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1
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1
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1
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1
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0
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1
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1
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1
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1
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1
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1
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1
52
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1
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1
48
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1
76
16
0
79
13
1
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0
35
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1
76
18
0
75
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1
42
12
1
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74
18
1
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16
0
78
15
0
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13
1
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0
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1
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0
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1
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1
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0
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0
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1
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1
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0
34
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0
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18
0
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0
59
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0
71
18
1
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1
35
19
1
76
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1
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1
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1
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1
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1
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1
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1
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0
31
18
0
Sheet2
Sheet3
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