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What is the t-ratio for exp

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1. The following regression results relate to a study of the salaries of public school teachers in a midwestern city:

Variable

Coefficient

Standard Error

t-ratio

Constant

20,720

6,820

3.04

EXP

805

258

 




R-squared = 0.684; n = 105

Standard error of the estimate = 2,000

EXP is the experience of teachers in years of a full-time teaching

a. What is the t-ratio for EXP? Does it indidcate that experience is a statistically significant determinant of salary if a 95 percent confidence level is desired?

b. What percentage of the variation in salary is explaned by this model?

c. Determine the point estimate of salary for a teacher with 20 years of experience.

d. What is the approximate 95 percent confidence interval for your point estimate from part (c)?

Reference no: EM13847999

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