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Predictors of Salary


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A possible multilinear regression equation for salary could look as follows:

Annual Salary = 10,000 + 2,000*Education + 1,500*Experience + 2,500*Gender
(500) (500) (100)
p = 0.01 p = 0.03 p = 0.02

Where the values are defined as follows:
- The numbers in parenthesis represent the standard error of the corresponding coefficient
- The values after "p =" represent the p-values associated with each of those coefficients
- "Education" represents the number of years of education of the person
- "Experience" represents the number of ...

Solution Summary

The solution discusses the predictors of salary.