CORRELATION VALUES

B1

B1) Is there a relationship between starting salary and the years of experience required?

The correlation coefficient gives the value of the measure of the degree of dependence or the linear relationship between two variables. The values of the correlation coefficient can vary between

Thus, the correlation values are generally the fractions as the perfect positive correlation and a perfect negative correlation values cannot be expected in real scenarios. The positive correlation shows that out of the two variables, one increase with a positive change in the other one. The negative correlation is just opposite one , one of the variables decrease with a positive change in the other variable.

In this scenario, it can be proved that the salary increases with the number of years of experience. The correlation value is equal to 0.54 approximately. So, as the experience increase the salary   increases. As variable is perfectly correlated to itself

B2)Is there a relationship between the size of the firm offering the position and starting

salary?

We have used the scatter plot to check the interdependence of the variables. The scatter plots are simply the plot of the variables as points in the X-Y plane. The scatter plots are helpful when we have loads of data and we need to know the changes in a variable with respect to the other. The tread lines  through the scatter plots help us know the curve of best fit.

There is a positive relationship between the expected salary and the size of the firm as can be seen in the following scatter plot.

The expected salary increases linearly with the size of the firm. The scatter plot doesn’t give us the degrees of dependence of the two data but help us predict the change in one variable with another.

However we do not find any kind of relationship between the size of the firm and the staring position of the employee as shown in the following scatter plot.

B3) Is the average salary for positions in finance significantly larger than the average salary

for positions outside of finance?

The Average salary for the positions in finance is 55693.33 and the average salary of the positions outside positions in finance is 57576.74. Thus the average salary of the positions in finance is not greater than the positions outside. This can be also confirmed from the O-give curves shown down that the salary rise for the other departments is more sharp.

B4) Is there a relationship between whether an advertised position description uses the word

“graduate” and whether the position description uses the word “manager”?

There is a very weak relationship between the advertised position of the manager and the advertised position graduate as found out from the correlation data. The correlation is still negative between the two variables which is irrelevant to us here. The correlation table is given as:

LB79

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