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# The following regression results relate to a study of the salaries of public school teachers in Midwestern

city.   Variable       coefficient   standard error     t-ratio Constant        20,720          6,820             3.04 EXP                805            258             3.12 R -squared = 0.684, n=105, standard error of estimate = 2000 EXP is the experience of teachers in years of full-time teaching A/what is the t -ratio/3.12/ for EXP? Does it indicate that experience is a statistically significant determinant of salary if a 95%confidence level is desired? B/What percentage of the variation in salary is explained by this model? C/Determine the point estimate of salary for a teacher with 20 years of experience? D/What is the approximate 95% confidence interval for point estimate from part (C)?

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