lalosangeles
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- Jun 11, 2018
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Hi - I need help with this question. My own attempts are in blue below - it's probably wrong.
Also, I recently downloaded Minitab thinking it will make my life easier, but have no idea how to set up multiple regression so that there's more or less of an automated output.
I know this isn't a Minitab help forum, but if anyone with any knowledge of this can help with this, it'd be much appreciated!
We are interested in modeling the relationship among annual income, level of education, and work experience.
The level of education is the number of years of education beyond eight grade (1 = completing 1 year of high school, 8 = completing 4 years of college)
Use the above data from a random sample of 12 individuals to answer the following.
(a) State the regression equation for the scenario.
Y' = b₁X₁ + b₂X₂ + a
Y' = 1.68955X₁ + 5.57296X₂ - 16.31043
(b) Conduct a regression analysis of these data and include your relevant regression output.
There must be a way this can simply be done on Minitab... any pointers?
(c.) What can you conclude regarding the relationship among annual income, level of education and work experience based on your regression analysis results in part (b)? Cite relevant numeric indices or results of your regression analysis as part of your response.
Also, I recently downloaded Minitab thinking it will make my life easier, but have no idea how to set up multiple regression so that there's more or less of an automated output.
I know this isn't a Minitab help forum, but if anyone with any knowledge of this can help with this, it'd be much appreciated!
Work Experience (Years) X₁ | Level of Education X₂ | Annual Income ($ Thousands) Y |
12 | 6 | 34.7 |
14 | 3 | 17.9 |
4 | 8 | 22.7 |
16 | 8 | 63.1 |
12 | 4 | 33.0 |
20 | 4 | 41.4 |
25 | 1 | 20.7 |
8 | 3 | 14.6 |
24 | 12 | 97.3 |
28 | 9 | 72.1 |
4 | 11 | 49.1 |
15 | 4 | 52.0 |
The level of education is the number of years of education beyond eight grade (1 = completing 1 year of high school, 8 = completing 4 years of college)
Use the above data from a random sample of 12 individuals to answer the following.
(a) State the regression equation for the scenario.
Y' = b₁X₁ + b₂X₂ + a
Y' = 1.68955X₁ + 5.57296X₂ - 16.31043
(b) Conduct a regression analysis of these data and include your relevant regression output.
There must be a way this can simply be done on Minitab... any pointers?
(c.) What can you conclude regarding the relationship among annual income, level of education and work experience based on your regression analysis results in part (b)? Cite relevant numeric indices or results of your regression analysis as part of your response.