Managers at Beta Technologies, Inc., have collected current annual salary figures and potentially related data for a random sample of 52 of the company’s full-time employees. The data are in the table. These data include each selected employee’s gender, age, number of years of relevant work experience prior to employment at Beta, the number of years of employment at Beta, and the number of years of post-secondary education. 

a. Estimate a multiple regression model to explain the variation in employee salaries at Beta Technologies using all of the potential explanatory variables. 

b. Using your regression output, determine which of the explanatory variables should be excluded from the regression equation. Provide reasoning for your decision to remove each such variable.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 A Gender 1 0 0 1 0 0 1 0 1 1 0 1 1 0 1 0 1 B C D Case # 1: Beta Technologies, Inc. Age Prior_Experience 35 46 26 24 52 43 35 36 47 25 33 26 43 37 31 45 46 7 15 1 4 21 10 8 14 13 2 8 1 13 8 6 6 13 Beta_Experience Education 10 7 0 2 24 8 0 5 14 1 3 6 7 4 2 E 13 16 4 6 4 4 7 4 6 4 6 4 6 0 4 6 0 6 5 F Annual_Salary 80,450 92,912 71,214 54,750 145,285 90,442 82,207 84,331 129,489 58,118 83,956 58,439 90,638 80,167 46,371 98,613 116,927