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Question 1 - 5 1992-1993 Salary data for a sample of 15 universities was obtained.
Question 1 - 5 1992-1993 Salary data for a sample of 15 universities was obtained. We are curious about the relationship between mean salaries for assistant professors (junior faculty) and full professors (senior faculty) at a given university. IN particular, do universities pay (relatively) high salaries to both assistant and full professors, or are full professors treated much better than assistant professors? In other words, do senior faculty receive high salaries compared to other universities while junior faculty receive relatively low salaries? Suppose we fit the following simple linear regression model: Full Prof. Salary = 0 + 1 Asist. Prof. Salary + i , where the deviations i were assumed to be independent and normally distributed, with mean 0 and standard deviation . The variables full Prof. Salary and Asst. Prof. Salary are the mean salaries for full and assistant professors at a given university. This model was fit to the data using the method of least squares. The following results were obtained from statistical software. Not that salaries were in thousands of dollars. Mean assistant professors salaries were treated as the explanatory variable and mean full professor salaries as the response variable.1. The intercept of the least-squares regression line is (approximately) 2. A 90% confidence interval for the slope 1 in the simple linear regression model is3.