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“Metaskills” and career management. Effective management
Chapter 11, Problem 97SE(choose chapter or problem)
Problem 97SE
“Metaskills” and career management. Effective management of one’s own career requires a skill set that includes adaptability, tolerance for ambiguity, self-awareness, and ability to identify change. Management professors at Pace University (New York) used correlation coefficients to investigate the relationship between these “metaskills” and effective career management (International Journal of Manpower, Aug. 2000). Data were collected for 446 business graduates who had all completed a management metaskills course. Two of the many variables measured were self-knowledge skill level (x) and goal-setting ability (y). The correlation coefficient for these two variables was r = .70. a. Give a practical interpretation of the value of r. b. The p-value for a test of no correlation between the two variables was reported as p-value = .001. Interpret this result. c. Find the coefficient of determination, r2, and interpret the result.
Questions & Answers
QUESTION:
Problem 97SE
“Metaskills” and career management. Effective management of one’s own career requires a skill set that includes adaptability, tolerance for ambiguity, self-awareness, and ability to identify change. Management professors at Pace University (New York) used correlation coefficients to investigate the relationship between these “metaskills” and effective career management (International Journal of Manpower, Aug. 2000). Data were collected for 446 business graduates who had all completed a management metaskills course. Two of the many variables measured were self-knowledge skill level (x) and goal-setting ability (y). The correlation coefficient for these two variables was r = .70. a. Give a practical interpretation of the value of r. b. The p-value for a test of no correlation between the two variables was reported as p-value = .001. Interpret this result. c. Find the coefficient of determination, r2, and interpret the result.
ANSWER:
Step 1 of 3
a)
Interpretation of the value of r:
Let the response variable (y) be the goal setting ability and the predictor variable (x) be the self knowledge skill level.
The correlation between the variables is given as
It implies that there is a moderate positive linear correlation between the goal setting ability and the self knowledge skill level, since the value of r is nearly close to 1.