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Executive Salary An international management consulting company develops multiple regression models for executive salaries of its clients.
Executive Salary An international management consulting company develops multiple regression models for executive salaries of its clients. A preliminary step in the construction of these models is the determination of independent variables. A team from this management consulting company conducted interviews with Human Resource departments and executives at its clients’ firms. At the same time, they did extensive research on previous projects and studies in this topic. Finally, they decided to use 10 potential independent variables, including seven quantitative and three qualitative variables. They collected a sample of 100 executives’ salaries from its clients and public resources, such as public companies’ annual reports. After analyzing the data, they realized that salaries tend to be incremented in percentage rather than dollar values. As a result, They feel that to use natural logarithm of salary as the dependent variable have better predictive power than those using salary as the dependent variable. The data are saved in EXECSAL file. You are applying for a junior consultant position with this international management consulting company and were selected for the last round interview. In this interview, the company is asking you to perform appropriate statistical analysis, build regression models, and write a management report on this executive salary project. The team lead of this project will review your report and make the hiring decision. 1.
