SOLUTION: Please help!
In the following regression, X = weekly pay, Y = income tax withheld, and n = 35 McDonald’s employees. (a) Write the fitted regression equation. (b) State the degrees
Algebra.Com
Question 140333: Please help!
In the following regression, X = weekly pay, Y = income tax withheld, and n = 35 McDonald’s employees. (a) Write the fitted regression equation. (b) State the degrees of freedom for a two-tailed test for zero slope, and use Appendix D to find the critical value at α = .05. (c) What is your conclusion about the slope? (d) Interpret the 95 percent confidence limits for the slope. (e) Verify that F = t2 for the slope. (f) In your own words, describe the fit of this regression.
Regression output confidence interval
variables coefficients std. error t (df = 33) p-value 95% lower 95% upper
Intercept 30.7963 6.4078 4.806 .0000 17.7595 43.8331
Slope 0.0343 0.0119 2.889 .0068 0.0101 0.0584
ANOVA table
Source SS df MS F p-value
Regression 387.6959 1 387.6959 8.35 .0068
Residual 1,533.0614 33 46.4564
Total 1,920.7573 34
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
In the following regression, X = weekly pay, Y = income tax withheld, and n = 35 McDonald’s employees.
(a) Write the fitted regression equation.
y = 30.7963 + 0.0343X
-------------------------------------
(b) State the degrees of freedom for a two-tailed test for zero slope, and use Appendix D to find the critical value at α = .05.
df= 33 ; critical value = 1.692
----------------------------------
(c) What is your conclusion about the slope?
Since 2.889 is greater than 1.692, Reject Ho. The slope is not 0.
There is a linear relation between X and Y.
------------------------------------------------
(d) Interpret the 95 percent confidence limits for the slope.
We can be 95% confidence the slope is between 0.0101 and 0.0584
---------------------------------------------------
(e) Verify that F = t2 for the slope.
8.35 = 2.889^2
(f) In your own words, describe the fit of this regression.
Based on p-values both the intercept and the slope are good.
Income tax withheld increases by 0.0343 for every increase of one
dollar of weekly pay.
------------------------------------------------------------
Regression output confidence interval
variables coefficients std. error t (df = 33).. p-value.. 95% lower.. 95% upper
Intercept.. 30.7963..... 6.4078... 4.806....... .0000..... 17.7595.... 43.8331
Slope....... 0.0343..... 0.0119... 2.889....... .0068...... 0.0101..... 0.0584
----------------------------------
ANOVA table
Source....... SS... df MS........ F.. p-value
Regression 387.6959. 1. 387.6959 8.35 .0068
Residual 1,533.0614 33.. 46.4564
Total... 1,920.7573 34
--------------------------------------
Cheers,
Stan H.
RELATED QUESTIONS
12.48 In the following regression, X = weekly pay, Y = income tax withheld, and n = 35... (answered by stanbon)
Please kindly help me. I am struggling with this question. I desperately need your... (answered by stanbon)
12.48 In the following regression, X = weekly pay, Y = income tax withheld, and n = 35... (answered by stanbon)
I saw this question earlier but it wasn't answered and there was no dataset included so... (answered by stanbon)
In the following regression, X = weekly pay, Y = income tax withheld, and n = 35... (answered by stanbon)
12.48 In the following regression, X = weekly pay, Y = income tax withheld, and n = 35... (answered by stanbon)
In the following regression, X = weekly pay, Y = income tax withheld, and n = 35... (answered by stanbon)
In the following regression, X = weekly pay, Y = income tax withheld, and n = 35... (answered by stanbon)
12.48 In the following regression, X = weekly pay, Y = income tax withheld, and n = 35... (answered by stanbon,assante10)