The following sample data contains the number of years of college and the current annual salary for a random sample of heavy equipment salespeople. A researcher believes that spending more years in collegeleads to higher annual income.Annual IncomeYears in College(In Thousands)31.235.9239.0254.6443.728.157.7446.8362.460.8SUMMARY OUTPUTRegression StatisticsMultiple RR SquareAdjusted R Square0.9590.9190.909Standard Error3.756Observations10.000ANOVAdfSSSignificance F0.000MSFRegression1.0001,285.2451,285.24591.105Residual8.000112.85814.107Total9.0001,398.103t StatP-valueLower 95% Upper 95% Lower 95.0% Upper 95.0%(1.591)Coefficients itandard Erroi(1.591)9.6131.9230.09117.58117.581InterceptYears in College7.9954.15712.6751.3289.5450.0009.61315.73715.737 f) Test whether the number of years in college has a significant impact on income at a.05. What are the hypotheses? How do you test the hypotheses? What is the conclusion?For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).BI U SParagraphArial10ptAx? X2+,Ex3

Answered: Test whether the number of years in…

Test whether the number of years in college has a significant impact on income at a.05. What are the hypotheses? How do you test the hypotheses? What is the conclusion?

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter1: Fundamental Concepts Of Algebra

Section1.1: Real Numbers

Problem 11E

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Question

The following sample data contains the number of years of college and the current annual salary for a random sample of heavy equipment salespeople. A researcher believes that spending more years in college
leads to higher annual income.
Annual Income
Years in College
(In Thousands)
31.2
35.9
2
39.0
2
54.6
4
43.7
28.1
57.7
4
46.8
3
62.4
60.8
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
0.959
0.919
0.909
Standard Error
3.756
Observations
10.000
ANOVA
df
SS
Significance F
0.000
MS
F
Regression
1.000
1,285.245
1,285.245
91.105
Residual
8.000
112.858
14.107
Total
9.000
1,398.103
t Stat
P-value
Lower 95% Upper 95% Lower 95.0% Upper 95.0%
(1.591)
Coefficients itandard Erroi
(1.591)
9.613
1.923
0.091
17.581
17.581
Intercept
Years in College
7.995
4.157
12.675
1.328
9.545
0.000
9.613
15.737
15.737

f) Test whether the number of years in college has a significant impact on income at a.05. What are the hypotheses? How do you test the hypotheses? What is the conclusion?
For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
B
I U S
Paragraph
Arial
10pt
A
x? X2
+,
Ex3

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