Essay
A company hired 25 employees for various positions.After the candidates were chosen,they wanted to see what the relationship of starting salary was based on years of experience and education level.They assign a 0,1,2,or 3 for high school diploma,bachelor's degree,master's degree,or a doctorate,respectively.The regression model looks like this:
Dependent variable is: Salary
R-squared = 69.6% R-squared (adjusted)= 66.9%
s = 7889 with 25 - 3 = 22 degrees of freedom
-Here are histograms of the leverage and Studentized residuals for the regression model:
Comment on what these diagnostic displays indicate.
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