Mike Wilde is president of the teachers' union for Otsego School District. In preparing for upcoming negotiations, he is

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Mike Wilde is president of the teachers' union for Otsego School District. In preparing for upcoming negotiations, he is

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Mike Wilde is president of the teachers' union for Otsego School District. In preparing for upcoming negotiations, he is investigating the salary structure of classroom teachers in the district. He believes there are three factors that affect a teacher's salary years of experience, a teaching effectiveness rating given by the principal, and whether the teacher has a master's degree. A random sample of 20 teachers resulted in the following data, Salary ($ Years of Principals Masters thousands) Experience. * Rating, Degree, 35 43 51 60 73 te 26 54 1 31.1 33.6 29.3 43.0 38.6 45.0 42.0 36.8 46.6 31,7 25.7 30.6 51.8 46.7 38.4 33.6 41.8 30.7 2 15 11 14 . 7 22 1 1 90 30 46 54 20 1 5 23 17 12 14 es 1 8383238 1 4 2 32.0 42.8
Click here for the Excel Data.Ele o. Develop a correlation matrix. Which independent variable has the strongest correlation with the dependent variable? Does it appear there will be any problems with multicollinearity? (Round your answers to 3 decimal places.) Years Rating The correlation matrix is: Salary Years Rating Master's has the strongest correlation with salary. There so be a problem with multicolinearity b. Determine the regression equation. What salary would you estimate for a teacher with 5 years experience a rating by the principal of 60, and no master's degree? (Negative amount should be indicated by o minus sign. Round salary to nearest whole number, all other answers to 3 decimal places.) The regression equation is 9= or c. Conduct a global test of hypothesis to determine whether any of the regression coefficients differ from zera. Use the 0.05 Significance level (Round your answers to 2 decimal places.) Hos rejected IF Hola Computed At least one regression coeficientin
d. Conduct a test of hypothesis for the individual regression coefficients. Would you consider deleting any of the independent variables? Use the 0.05 significance level (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Aregression coefficient is dropped il computed fis to the left of Keep- or right of and drop e. Il your conclusion in part (d) was to delete one or more independent variables, run the analysis again without those variables (Round your answers to 4 decimal places.) Dropping " we have salary
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