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Problem 3 (LO #4): (12 points) 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 that 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 (If yes, Masters = 1; if no, Masters = 0). Below is the regression output with missing entries for a random sample of 20 teachers. ANOVA df SS MS Regression 903.1937916 Residual 91.36819635 Total Coefficients Standard Error t Stat Intercept 19.915192 1.916260295 10.39274 Years 0.8993794 0.087678763 Rating 0.153916 0.031440644 4.89545 Masters -0.6673082 1.213932811 a) Determine the regression equation. Interpret the coefficient of "Years". How much more (or less) does a teacher with a master's degree earn than a teacher without a master's degree? b) What salary would you estimate for a teacher with 5 years of experience, a rating by the principal of 60, and no master's degree? c) Complete the missing entries in the ANOVA table. d) Conduct a test to determine if "Years" and "Masters" are significant variables. Use a = 0.05. e) Compute a 95% confidence interval for B2. Comment on the significance of "Rating". f) Use a = 0.05 to test if the model is significant. g) What percentage of the variation in teachers' salaries is explained by the model? Comment