Question: If possible, please explain how to solve this using excel. Thank you Student School_Ranking GPA Experience Salary 1 78 2.92 3 73,590 2 56 3.84
If possible, please explain how to solve this using excel. Thank you
| Student | School_Ranking | GPA | Experience | Salary | |
| 1 | 78 | 2.92 | 3 | 73,590 | |
| 2 | 56 | 3.84 | 9 | 87,000 | |
| 3 | 23 | 3.04 | 6 | 76,970 | |
| 4 | 67 | 3.20 | 6 | 79,320 | |
| 5 | 56 | 3.61 | 7 | 79,530 | |
| 6 | 78 | 2.99 | 5 | 71,040 | |
| 7 | 68 | 3.78 | 8 | 82,050 | |
| 8 | 89 | 3.20 | 5 | 78,890 | |
| 9 | 37 | 3.42 | 7 | 82,170 | |
| 10 | 67 | 3.05 | 5 | 76,120 | |
| 11 | 48 | 3.12 | 4 | 77,500 | |
| 12 | 78 | 3.56 | 7 | 83,920 | |
| 13 | 56 | 3.01 | 5 | 71,800 | |
| 14 | 25 | 3.15 | 6 | 77,000 | |
| 15 | 68 | 3.05 | 7 | 79,000 | |
| 16 | 36 | 3.24 | 5 | 77,800 | |
| 17 | 76 | 3.25 | 6 | 80,600 | |
| 18 | 78 | 3.78 | 9 | 87,000 | |
| 19 | 67 | 3.12 | 4 | 78,450 | |
| 20 | 67 | 3.24 | 8 | 80,600 | |
| 21 | 15 | 2.98 | 5 | 74,900 | |
| 22 | 29 | 3.24 | 6 | 79,200 | |
| 23 | 49 | 3.08 | 4 | 77,000 | |
| 24 | 67 | 3.00 | 6 | 77,900 | |
| 25 | 39 | 2.95 | 4 | 76,950 | |
| 26 | 81 | 3.01 | 5 | 76,800 | |
| 27 | 54 | 3.23 | 7 | 79,300 | |
| 28 | 72 | 3.01 | 2 | 72,120 | |
| 29 | 73 | 3.45 | 7 | 83,900 | |
| 30 | 78 | 3.85 | 8 | 85,200 | |
| 31 | 51 | 3.00 | 5 | 77,300 | |
| 32 | 86 | 3.23 | 6 | 83,500 | |
| 33 | 76 | 3.80 | 7 | 77,000 | |
| 34 | 30 | 3.08 | 5 | 75,000 | |
| 35 | 58 | 3.15 | 7 | 79,200 | |
| 36 | 86 | 3.35 | 7 | 80,400 | |
| 37 | 34 | 3.09 | 7 | 80,200 | |
| 38 | 72 | 3.35 | 9 | 84,800 | |
| 39 | 38 | 3.16 | 3 | 72,800 | |
| 40 | 89 | 2.76 | 7 | 75,000 | |
1. Develop a simple linear regression equation for starting salaries using an independent variable that has the closest relationship with the salaries. Explain how you chose this variable. (5 + 5 = 10 points)
2. Present the simple linear regression equation, identify and explain the coefficient of determination, intercept and regression coefficient, and significance of F-test. Based on this analysis, is your regression equation "good for use"? Explain. (2+2+2+2+2 = 10 points)
3. Provide a numeric example of how this regression equation may be used to predict students' starting salaries. (5 points)
4. Develop a multiple regression equation for starting salaries using School_Ranking, GPA, and Experience as independent variables. Is this regression equation "good for use"? Explain. (7 + 3 = 10 points)
5. If the multiple regression equation in the previous question is not "good for use", how would you suggest improving this multiple regression equation? Present the improved multiple regression equation. Give a numeric example of how this improved multiple regression equation may be used to predict students' starting salaries. (5 + 5 + 5 = 15 points)
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