Reference no: EM132297608

a. Discuss the following statement: “One of the most important issues in regression analysis concerns model specification (the determination of which independent variables should be included in or excluded from a regression equation).” b. Do you like Timothy’s model? Is it, for example, in line with Song Mei Hui’s ideas? 2. What’s the difference between simple regression analysis and multiple regression analysis?3. Why can’t Timothy run a series of simple regressions (for instance three or seven) to test the hypotheses of his study? 4. Provide the equation of Timothy’s model. 5. Interpret the results of the regression analysis. Discuss: a. the model fit; b. the significance of the model; c. the constant; d. the statistical validity of the beta coefficients; e. the face validity of the results.6. A common problem encountered in regression analysis is multicollinearity. a. What is multicollinearity and how does it affect the estimates of the regression coefficients?b. Describe two ways to test for multicollinearity. Which one do you prefer?c. Suppose that multicollinearity is a problem in this study. What can Timothy do about it? d. Do you expect that multicollinearity is a problem in this study? Explain.7. Timothy suggests that Pierce & Pierce should create more exciting jobs to attract more employees since the mean of the independent variable “excitement” is relatively low. Do you agree?8. What managerial conclusions can you draw based on the results of the regression analysis? 9. Song Mei Hui believes that the gender of potential employees may affect the original relationship between prestige and employer attraction. She asks Timothy to test this idea.a. How can Timothy test this idea? b. Provide a new equation of the model: include Song’s ideas about the moderating effect of gender on the relationship between prestige and employer attraction.10. Discuss the following statement: “Regression analysis does not address the issue of causality.”