A company has undertaken a study of 16 secretaries' yearly salaries (in thousands of dollars). They want to predict salaries from several other variables.
The variables considered to be potential predictors of salary are:
X1 = months of service
X2 = years of education
X3 = score on standardized test
X4 = words per minute of typing speed
X5 = ability to take dictation in words per minute
A multiple regression model with all five variables was run, resulting in the following output: