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Regression Analysis for Salary

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Use regression analysis to set up and solve whether or not college experience really determines someone's salary in the work place. I've sampled a few of my colleagues.

Years of college and salary =

2yrs / $30,000
4yrs / $60,000
6yrs / $70,000
6yrs / $80,000
8yrs / $100,000
3yrs / $40,000
4yrs / $70,000
5yrs / $60,000
2yrs / $40,000

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https://brainmass.com/math/interpolation-extrapolation-and-regression/regression-analysis-salary-232675

Solution Summary

The solution provides step by step method for the calculation of regression model for salary based on experience . Formula for the calculation and Interpretations of the results are also included.

$2.19
See Also This Related BrainMass Solution

Regression Analysis: Salaries for Professors

Please see attachment.

The data for this problem are fictitious, but they are not far off. For each of the top 25 business schools, the attached file contains the average salary of a professor. Thus, for Indiana U. (number 15 in the rankings), the average salary is $46,000. Use this information and regression to show that IU is doing a great job with its available resources.

B-school Salaries

Ranking Avgerage_Salary
1 161
2 153
3 120
4 133
5 111
6 108
7 134
8 116
9 99
10 106
11 102
12 92
13 114
14 80
15 46
16 70
17 86
18 54
19 73
20 67
21 57
22 46
23 48
24 43
25 23

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