You have been commissioned by a local chapter of business professionals in the Phoenix area to analyze their data. Specifically, the charter gathered data from its membership to learn about the relationship between years of experience and salary for individuals employed in general business roles and those employed in finance roles. Calculate the mean and standard deviation by position and experience and in total by completing the table provided in the template.
Use analysis of variance (one-way ANOVA) to test for any significant differences between salary and position at the .05 level of significance. Ignore the effect of years of experience.
Use analysis of variance (one-way ANOVA) to test for any significant differences between salary and years of experience at the .05 level of significance. Ignore the effect of position.
Based on your total analysis, provide management with a summary conclusion to answer these basic questions: Is there a relationship between salary and position? Is there a relationship between salary and years of experience? Explain. Your response should be at least 100 words in length.