111 Twentyone executives in a large corporation were randoml

111. Twenty-one executives in a large corporation were randomly selected to study the effect of several factors on annual salary (expressed in $000s). The factors selected were age, seniority, years of college, number of company divisions they had been exposed to, and the level of their responsibility. The results of the regression analysis follow. Write out the multiple regression equation.

Solution

The multiple regression equation is:

Annual salary=-0.031 age+0.381 seniority+ 1.452 years of college -0.089 divisions +3.554 level