For this assignment, you are to review the scenario below and develop an 8- to 10-page report (plus a cover page and reference page), following the directions below. Please also review the below description of the quantitative methodology called Multiple Regression and then watch the Lynda.com video Computing a Multiple Regression as well, to increase your familiarity with this method of analyzing data. Please note that you are not expected to use the program depicted in the video or use the language described in the video to write your report for this assignment.
Industrial Organizational Psychology specialists often examine the ways in which one or more variables can predict another. Multiple regression is a popular statistical tool that is utilized for predicting an outcome (the dependent variable, or target) from two or more independent variables (the predictors).
In business, regression equations may be used to study or forecast salaries, hiring needs, sales, turnover rates, etc. In essence, the process both identifies the predictors, or combination of them, that best explain the variability in observations on the dependent variable. The resulting equation for the best fit of the data can then be tested on, or applied to, new observations to predict not-yet-observed outcomes.
You have been contracted by a company to hire the next chief executive officer (CEO). The company has given you a list of ten potential candidates for that position, and wants you to first gather data about the executives to help determine the best candidate. The candidates have been engaged in coaching and have also taken an emotional intelligence (EI) test. You suspect that variables such as years of experience as an executive, months of coaching, and years of education will contribute to the scores on the EI test, as well as the success of the right candidate. In this case, the higher the EI score, the better. More business experience, higher education, more months with a coach, and higher EI test scores indicate the more appropriate candidates. The assumption is that the company has offered coaching in the past. The data of the emotional intelligence test conducted on the candidates is given in the table below:
Years of Experience in BusinessLevel of Education
# of Months in CoachingEmotional Intelligence (EI) Test Scores515886247812395621388872597
Using any research methods textbook that you may have and at least five additional scholarly sources from the Argosy University online library (regarding multiple regression and multiple predictor variables), create an 8- to 10-page report for company leadership. Complete the following to include in the report:
• Perform a multiple regression analysis. On the basis of the results and the scholarly literature regarding predictors of chief executive officer’s (CEO’s) performance, recommend the best candidate and justified your choice.
• Describe the statistical analyses used and the multiple regression that is best suited for this type of measurement.
• Determine the best predictors of the emotional intelligence (EI) test scores.
• Identify other external variables that could influence one’s choice and explained why.
• Offer additional recommendations in regard to the variables used and your findings.
• Identify any ethical and diversity issues that may affect the selection process.