Please help me solve A university would like to examine the relationship between
ID: 3356779 • Letter: P
Question
Please help me solve
A university would like to examine the relationship between a faculty member's performance rating (measured on a scale of 1-20) and his or her annual salary increase. The table to the right shows these data for eight randomly selected faculty members Construct a 95% confidence interval for the regression slope. Rating Increase Rating Increase 15 $2400 18 $2400 $1700 13 $1700 15 $2100 15 $2600 18 $1900 15 $2000 Construct a 95% confidence interval for the slope. LCL- 1 and UCL = (Round to three decimal places as needed.)Explanation / Answer
The statistical software output for this problem is:
Simple linear regression results:
Dependent Variable: Increase
Independent Variable: Rating
Increase = 973.27935 + 74.493927 Rating
Sample size: 8
R (correlation coefficient) = 0.46278509
R-sq = 0.21417004
Estimate of error standard deviation: 323.69326
Parameter estimates:
Hence,
95% confidence interval for slope will be:
LCL = -68.050
UCL = 217.038
Parameter Estimate Std. Err. DF 95% L. Limit 95% U. Limit Intercept 973.27935 888.50192 6 -1200.8064 3147.3651 Slope 74.493927 58.254594 6 -68.049923 217.03778