Q1
The hiring managers for this organization want to plan their recruitment budget for the next year, but they have not yet heard from upper management about how much funding they will receive for hiring purposes. Therefore, they want to predict how much management will allot based on the trends of past funding.
First, you will need to transpose your data so the months are aligned vertically. I recommend pasting it into a different sheet and saving the original data set. Your transposed data set should have the months in one column and the employment source as different columns. E.g., this snippet:
Then you will need to re-code the months so that they are numeric. Make January a 1, February a 2, March a 3, and so on until December is 12.
Last, run a simple regression predicting Newspaper/Magazine funding from Month. (Only use the months 1-12).
What is the value of the b coefficient that describes the relationship between Months and Newspaper/Magazine funding? Round to 1 decimal place.
Q2
Based on the above simple regression analysis, how much should the hiring managers expect to have for Newspaper/Magazine in the following January (Month 13)? Round to two decimal places, do not include the dollar sign.
Q3
The hiring managers want to compare three different employment sources: Newspaper/Magazine, CareerBuilder, and Monster.com. Perform simple regressions as you did above predicting allocations for month 13 for those three employment sources. Which of the following statements would be the best conclusion from your analysis?
Group of answer choices
The model R-square for Monster.com is the highest R-square value of the three platforms. Therefore, management will likely provide the most funding for that platform, and we should focus on that above the other two.
The models for Monster.com and Newspaper/Magazine are both significant, which means we should focus on these two platforms over CareerBuilder because management will likely provide us the most funding for those two platforms.
The predicted monthly amount for CareerBuilder is lower than the predicted amount for Newspaper/Magazine. Therefore, they should expect the lowest amount of funding for CareerBuilder out of all of the three, and should concentrate on their efforts on the other two employment resources.
The monthly amounts for Monster.com have a negative slope, compared to the other two, which have a positive slope. Therefore, they should expect lower funding for Monster.com than in the past, and should concentrate their efforts on the other two employment resources.
All of the above are correct.
None of the above are correct.
Q4
For ease of performing the next task, move the variable “Social Networks – Facebook, Twitter, etc” to column A on the spreadsheet. (i.e. Make sure it is the first column in the spreadsheet.)
The hiring managers recognize that the funding for one employment source depends on the funding for the other sources. Therefore, they want you to perform a multiple regression predicting Social Network funding from Months 1-12, while controlling for the funding of Billboard, Careerbuilder, Company Intranet – Partner, and Diversity Job Fair.
Assume that we know the funding for the the controlled variables for Month 13. They are:
Billboard: 520
Careerbuilder: 800
Company Intranet: 0
Diversity Job Fair: 1000
For this model and these known values, what is the predicted value for Social Network funding for Month 13?
