Question: Based on the Salary Data set, write a report based on the following questions: 1. Construct a scatter chart for current salary/annum versus first job
Based on the Salary Data set, write a report based on the following questions: 1. Construct a scatter chart for current salary/annum versus first job salary received per annum, previous experience, and education. Then, add a linear trendline. State the simple regression model and predict the followings: a. If first job salary/annum is RM46000, what is the current salary/annum in RM? b. If previous experience is 30 months, what is the current salary/annum in RM? c. If education is 25 years, what is the current salary/annum in RM. 2. Apply the Excel Regression tool using current salary as the dependent variable and first job salary, experience, and education as independent variables. a. State the hypotheses (two-tailed hypothesis testing). b. Interpret all key regression results as follows: i. R-Square ii. F-test iii. P-value iv. Use the standard residuals to determine if any outlier exists. How to handle outlier? c. Based on the output, state insignificant variable, if any. From your perspective, explain why the factor is not significant (you may refer to any articles and cite the source). d. Develop a multiple regression model in predicting current salary as a function of other variables. e. Predict current salary if: i. first job salary/annum is RM11 000 with 5 years of education ii. first job salary/annum is RM11 000 with 25 years of education. iii. first job salary/annum is RM33 000 with 15 years of education. iv. first job salary/annum is RM55 000 with 30 years of education. 3. Assume that you are running an enterprise. Will you consider first job salary, experience and education in selection and recruitment process? State your reasons (you may refer to any articles and cite the source). 4. Other than the highlighted variables, state one variables that you will consider in selection and recruitment process (you may refer to any articles and cite the source).
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