University of The Cumberlands Regression Statistics Analysis
Question Description
I’m working on a business question and need an explanation and answer to help me learn.
Your firm is interested in learning more about how its salaries relate to its employees tenure with the firm. It has collected the following data for 25 of its employees.
| EMPLOYEE NUMBER | TENURE (YEARS) | SALARY ($) |
| 1 | 15 | 53,908 |
| 2 | 32 | 78,230 |
| 3 | 14 | 55,164 |
| 4 | 20 | 57,647 |
| 5 | 25 | 63,111 |
| 6 | 14 | 54,991 |
| 7 | 28 | 74,571 |
| 8 | 30 | 73,189 |
| 9 | 28 | 71,859 |
| 10 | 17 | 55,978 |
| 11 | 14 | 61,676 |
| 12 | 6 | 44,865 |
| 13 | 21 | 64,676 |
| 14 | 11 | 59,101 |
| 15 | 14 | 58,441 |
| 16 | 32 | 81,964 |
| 17 | 29 | 76,373 |
| 18 | 33 | 82,860 |
| 19 | 27 | 70,019 |
| 20 | 16 | 58,474 |
| 21 | 26 | 80,074 |
| 22 | 3 | 45,594 |
| 23 | 14 | 63,676 |
| 24 | 9 | 68,444 |
| 25 | 14 | 70,306 |
Plot these data points, and describe using regression how salary relates to firm tenure for this group.
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