Twenty-three executives in a large corporation were randomly selected for a study in

which several factors were examined to determine the effect on annual salary

(expressed in $'000s). The factors selected were age, seniority, years of education,

number of company divisions the executives had experience with, and level of

responsibility. The regression analysis is as follows:

Coefficient (Coef) Table

Predictor Coef Standard

Error CoefTConstant 23.00371 2.91933 7.8800Age -0.03100 0.18300 1.1694Seniority 0.38100 0.15800 2.4114Education 1.45200 0.38700 3.7519Number of divisions -0.08900 541 0.1645Level of responsibility 3.55400 0.83300 4.2665R2 = 0.941

Coefficient (Coef) Table Predictor Coef Standard T Error Coef Constant 23.00371 2.91933 7.8800 Age -0.03100 0.18300 1.1694 Seniority 0.38100 0.15800 2.4114 Education 1.45200 0.38700 3.7519 Number of divisions -0.08900 541 0. 1645 Level of responsibility 3.55400 0.83300 4.2665 R2 = 0.941