Q1) A recent study observed a random sample of 50 people who had lost their jobs, and recorded the number of weeks it took each person to find…

Q1) A recent study observed a random sample of 50 people who had lost their jobs, and recorded the number of weeks it took each person to find another job. The following variables were also recorded for each person in the sample.
1. Age (years) when job was terminated
2. Education (years of school + college/university) when job was terminated
3. Marital status (= 1 if married, 0 if not) when job was terminated
4. Head of household status (= 1 if head of household, 0 if not) when job was terminated
5. Tenure (years): how long spent working at firm, when job was terminated
6. Manager (= 1 if terminated job was in management, 0 if not)
7. Sales (=1 if terminated job was in sales, 0 if not)
You will find this data set in the Excel spreadsheet “Layoff Study Data”.
Analyze the data and develop the best multiple regression model you can, to predict how many weeks a laid off employee will need to find a job. Use the following method (from chapter 9):
i. Begin with the full regression model containing all seven potential independent variables.
ii. Drop insignificant variables from the model, until only significant variables remain.
ï‚· Eliminate independent variables one at a time, by selecting the variable with the largest p-value in excess of 0.05. Re-estimate the regression model after dropping a variable, and repeat. Keep going until the p-values of all remaining independent variables are 0.05 or less. Show your model selection process, along with the final regression model chosen.
Which variables remain in your final model, i.e., which factors significantly affect the length (weeks) of unemployment before finding a new job? Why do you think each of these remaining variables might help explain how quickly a laid off employee finds another job?
For your final model, interpret clearly the meaning of: (a) the estimated value of R-Squared and (b) the estimated value of the regression coefficient of each independent variable remaining in the model.
How many weeks of unemployment does your model predict for a laid off person who is 37 years old, with 15 years of schooling, not married, is head of a household, and was employed for 8 years at his last job in a non-management position in sales.

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10