+0  
 
0
117
1
avatar

can somneone help with a linear regression model equation?

 Dec 15, 2021
 #1
avatar
0

The human resource manager of a large USA based IT company has derived a linear regression model to predict the current salary of an employee based on the employee's starting salary (in $), previous experience (in months) and years in education. The model's output is shown below:  

Regression Statistics

 

 

 

 

R

0.8938

 

 

 

R Square

0.5914

 

 

 

Adjusted R Square

 0.8685

 

 

 

Standard Error

7,308.39550

 

 

 

Sample Size

95

 

 

 

 

 

 

 

 

 

Coefficients

Standard Error

t Stat

p-level

Intercept

-2247.32

4,165.04075

-0.76211

0.44808

Starting Salary

26.17

0.11447

14.02690

0.00000E+0

Previous Experience

-15.37

7.39860

-1.03829

0.08204

Education

944.35

349.76133

2.15655

0.13383

By looking at the model's output what is an employee’s current salary if the employee started working with a salary of 20500$, has 2 years of previous experience and has been studying for 8 years? (Give your answer in 2 decimal points).

 

 

 

 

 

 

 

 

 

 

 

 Dec 15, 2021

10 Online Users