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Consider the following model for estimating the salary of employees at a company (in $) by the number of years employed
Posted: Wed May 04, 2022 12:01 pm
by answerhappygod
- Consider The Following Model For Estimating The Salary Of Employees At A Company In By The Number Of Years Employed 1 (31.43 KiB) Viewed 39 times
Consider the following model for estimating the salary of employees at a company (in $) by the number of years employed at the company. > technitron.Im = 1m (salary - yrs.empl, data = technitron.df) > summary(technitron.lm) ## ## Call: ## Im(formula = salary yrs.empl, data = technitron.df) ## ## Residuals: ## Min 10 Median 30 ## -12854.7 -4108.9 201.5 3254.4 ## Max 16493.01 ## Coefficients: ## ## (Intercept) Estimate Std. Error t value Pr(>|t|) 28394.2 15.828 < 2e-16 *** 7.884 5.93e-10 *** 1794.8 140.4 ## yrs.empl 1187.2 ## --- ## Signif. codes: 8*** 0.001 0.01 0.05 0.11 ## ## Residual standard error: 7162 on 44 degrees of freedom ## Multiple R-squared: 0.5855, Adjusted R-squared: 8.5761 ## F-statistic: 62.15 on 1 and 44 DF, p-value: 5.933e-10 Using the output given, give a point estimate of the salary for an employee who has worked at the company for 4.3 years. Give your answer to 1dp.