We want to investigate the relationship of several factors to employees' current salaries. Included in the data is a sample of 37 employees. The first column is an ID. The second column is the time, in months, in their current job (VAR 1). The third column is the time, in years of related job experience (VAR 2, previous to working at current job). The fourth column is the number of years of formal education (VAR 3). The fifth column contains each employee's current salary (VAR 4). See attached data file.
The solution provides step by step method for the calculation of regression model . Formula for the calculation and Interpretations of the results are also included.