Week 5 Correlation and Regression – Employee Salary Data**Week 5 Tab**Create a correlation desk for the variables in our Worker Wage Knowledge Set. (Use evaluation ToolPak or StatPlus:mac LE perform Correlation).Reviewing the info ranges from week 1, what variables can be utilized in a Pearsonâs Correlation Desk (which is what Excel produces)?Place the desk right here.Utilizing r= roughly .28 as the numerous r worth (at p = .05) for a correlation between 50 values, what variables are considerably associated to wage? To compa?Trying on the above correlations â each vital or not â are there any surprises â by that I imply any relationships you anticipated to be significant and are usually not, and vice-versa?Does this data assist us reply our equal pay for equal work query?Beneath is a regression evaluation for wage being predicted/defined by the opposite variables in our pattern (Midpoint, age, efficiency score, service, increase, and diploma variables). Be aware: since wage and compa are other ways of expressing an employeeâs wage, we don't wish to have each utilized in the identical regression. Please interpret the findings.Carry out a regression evaluation utilizing compa because the dependent variable and the identical unbiased variables as utilized in query 2. Present the consequence, and interpret your findings by answering the identical questions.Be aware: be sure you embrace the suitable speculation statements.Based mostly on all your outcomes thus far, is gender an element within the pay practices of this firm? If that's the case, which gender will get paid extra? How do we all know? Which is the very best variable to make use of in analyzing pay practices - wage or compa? Why? What's the most fascinating or shocking factor in regards to the outcomes we bought doing the analyses over the last 5 weeks?Why did the one issue assessments and evaluation (reminiscent of t and single issue ANOVA assessments on wage equality) not present a whole reply to our wage equality query? What outcomes in your life or work may profit from a a number of regression examination relatively than an easier one variable check?