Discuss the statistical significance of the explanatory/independent variables

The data setceosalary contains information on chief executive officers for U.S. corporations. The variable salary is annual compensation, in thousands of dollars, ceoten is prior number of years as company CEO, mktval is market value of the firmin million dollars, sales is annual company sales in million dollars, and comten is total years with the company.

Using your preferred statistical analysis package, estimate the following multiple regression equation.

SALARY = a + b1CEOTEN+b2COMTEN+b3MKTVAL+b4SALES

  • Report the results of your estimation.
  • Discuss the statistical significance of the explanatory/independent variables
  • Comment on the effects of the significant variables (i.e. interpret the meaning of the coefficients)
  • Are you surprised by any of the effects of these variables on CEO salary?
  • Is there a relationship between CEO compensation and company performance?

Reference material: Illustration 4.1 and 4.2 of chapter 4 will be helpful for this discussion.

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