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Question Description

I’m working on a business question and need an explanation and answer to help me learn.

Your firm is interested in learning more about how its salaries relate to its employees? tenure with the firm. It has collected the following data for 25 of its employees.

EMPLOYEE NUMBER TENURE (YEARS) SALARY ($)
1 15 53,908
2 32 78,230
3 14 55,164
4 20 57,647
5 25 63,111
6 14 54,991
7 28 74,571
8 30 73,189
9 28 71,859
10 17 55,978
11 14 61,676
12 6 44,865
13 21 64,676
14 11 59,101
15 14 58,441
16 32 81,964
17 29 76,373
18 33 82,860
19 27 70,019
20 16 58,474
21 26 80,074
22 3 45,594
23 14 63,676
24 9 68,444
25 14 70,306

Plot these data points, and describe using regression how salary relates to firm tenure for this group.

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