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Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator (dummy) variables were created for each industry (1 if the CEO works in that industry, 0 otherwise). The Manufacturing industry is considered the base-level industry. Intercept Experience Health Care Service Financial Coefficients 133396.741143 3417.477093 226.614122 15262.361221 4382.039806 - 13879.298934 5267.791380 23101.606550 4630.919331 Standard Error 5008.325908 t Stat P-Value 26.634996 0.000000 15.080601 0.000000 3.482935 0.003338 -2.634747 0.018754 4.988557 0.000162 Copy Data According to the results, if a CEO in the Manufacturing industry and a CEO in the Service industry both have 3 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places. AnswerHow to enter your answer (opens in new window) 2 Points Keypad Keyboard Shortcuts

Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator (dummy) variables were created for each industry (1 if the CEO works in that industry, 0 otherwise). The Manufacturing industry is considered the base-level industry. Intercept Experience Health Care Service Financial Coefficients 133396.741143 3417.477093 226.614122 15262.361221 4382.039806 - 13879.298934 5267.791380 23101.606550 4630.919331 Standard Error 5008.325908 t Stat P-Value 26.634996 0.000000 15.080601 0.000000 3.482935 0.003338 -2.634747 0.018754 4.988557 0.000162 Copy Data According to the results, if a CEO in the Manufacturing industry and a CEO in the Service industry both have 3 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places. AnswerHow to enter your answer (opens in new window) 2 Points Keypad Keyboard Shortcuts

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 14PPS
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Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator (dummy) variables were created for each industry (1 if the CEO works in that industry, 0 otherwise). The Manufacturing industry is considered the base-level industry. Intercept Experience Health Care Service Financial Coefficients 133396.741143 3417.477093 226.614122 15262.361221 4382.039806 - 13879.298934 5267.791380 23101.606550 4630.919331 Standard Error 5008.325908 t Stat P-Value 26.634996 0.000000 15.080601 0.000000 3.482935 0.003338 -2.634747 0.018754 4.988557 0.000162 Copy Data According to the results, if a CEO in the Manufacturing industry and a CEO in the Service industry both have 3 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places. AnswerHow to enter your answer (opens in new window) 2 Points Keypad Keyboard Shortcuts
Transcribed Image Text:Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator (dummy) variables were created for each industry (1 if the CEO works in that industry, 0 otherwise). The Manufacturing industry is considered the base-level industry. Intercept Experience Health Care Service Financial Coefficients 133396.741143 3417.477093 226.614122 15262.361221 4382.039806 - 13879.298934 5267.791380 23101.606550 4630.919331 Standard Error 5008.325908 t Stat P-Value 26.634996 0.000000 15.080601 0.000000 3.482935 0.003338 -2.634747 0.018754 4.988557 0.000162 Copy Data According to the results, if a CEO in the Manufacturing industry and a CEO in the Service industry both have 3 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places. AnswerHow to enter your answer (opens in new window) 2 Points Keypad Keyboard Shortcuts
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