A Manager at a Local Bank Analyzed the Relationship Between

Multiple Choice

A manager at a local bank analyzed the relationship between monthly salary (y,in $) and length of service (x,measured in months) for 30 employees.She estimates the model: Salary = β₀ +β₁ Advertising + ε.The following ANOVA table below shows a portion of the regression results. The coefficient of determination indicates that __________.

A) 22.06% of the variation in Salary is explained by the variation in Service
B) 22.06% of the variation in Service is explained by the variation in Salary
C) 81.61% of the variation in Salary is explained by the variation in Service
D) 81.61% of the variation in Service is explained by the variation in Salary