excel assignment

CASE #2

STARTING SALARIES

The Excel file for this case contains starting salaries for 40 graduate students in public

administration directly after graduation. These students were randomly selected from

different universities. For each student, the file also lists the number of years of experience

prior to entering the public administration program and his/her overall GPA in that

graduate program. Besides, the file contains the overall ranking of the college/school on a

100-point scale (1=lowest, 100=highest). Develop the best regression equation for the student

starting salaries.

Questions.

1. Develop a single regression equation for starting salaries using an independent variable that has closest relationships with the salaries. Explain how you chose this variable.

2. Present the simple regression equation, identify and analyze coefficient of determination, intercept and regression coefficient, and significance F. Based on this analysis, is your

regression equation “good for use”? Explain.

3. Provide an example of how this regression equation may be used to project starting salaries.

4. Develop a multiple regression equation for starting salaries using School_Ranking, GPA, and Experience as independent variables. Is this regression equation “good for use”?

Explain.

5. If the multiple regression equation in the previous question is not “good for use”, how would you suggest improving this multiple regression equation? Present the improved

multiple regression equation. Show an example of how this improved multiple regression

equation may be used to project student starting salaries.