Midterm Excel Questions (Computer Exercise 2.2)
Fill in the yellow shaded cells. Each cell is worth 3 points.
Predicted values in question (v) are 3 points for the entire column for each model. That is, 3 points for the column for model (iii) and 3 points for the column for model (iv). This is all-or-none question
Each figure in question (v) is worth 3 points.
The data set CEOSAL2 contains information on chief executive officers for U.S. corporations.
The variable salary is annual compensation, in thousands of dollars, and ceoten is prior number of years as company CEO, and profits in millions of dollars
(i) Find the average salary and the average tenure in the sample.
(ii) How many CEOs are in their first year as CEO (that is, ceoten=0)? What is the longest tenure as a CEO? Use appropriate Excel commands, not just counting from the data with your eyes
Number of CEOs in the first year=
(iii) Estimate the simple regression model log(salary)=beta0+beta1*ceoten+u
beta0= use intercept( )
beta1= use slope( )
R2= SSRu = SSRr= Compute SSRuand SSRrfirst, and then compute R2
(approximate) predicted percentage increase in salary given one more year as a CEO= percent
(iv) You wish to compare the explanatory power of ceoten and profits.
Estimate the simple regression model log(salary)=beta0+beta1*profits+u
R2= SSRu = SSRr=
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