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1. Which quantity is the independent variable? O average mid-career salary of graduates O annual tuition 2. According to this model, what is the average salary for a graduate of a college or university where the annual tuition is $30,000? S 3. What is the slope of this regression model?

1. Which quantity is the independent variable? O average mid-career salary of graduates O annual tuition 2. According to this model, what is the average salary for a graduate of a college or university where the annual tuition is $30,000? S 3. What is the slope of this regression model?

Elementary Linear Algebra (MindTap Course List)
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.CR: Review Exercises
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Pp# 11: can you help me solve and understand this practice problem please? A step by step explanation would be appreciated. Thank you!
Data on tuition and mid-career salary are collected from a number of universities and colleges. The result of the data collection is the linear regression model ŷ 0.83x + 166 where = annual tuition and y = average mid-career salary of graduates, both in thousands of dollars. 1. Which quantity is the independent variable? O average mid-career salary of graduates O annual tuition 2. According to this model, what is the average salary for a graduate of a college or university where the annual tuition is $30,000? 3. What is the slope of this regression model?
Transcribed Image Text:Data on tuition and mid-career salary are collected from a number of universities and colleges. The result of the data collection is the linear regression model ŷ 0.83x + 166 where = annual tuition and y = average mid-career salary of graduates, both in thousands of dollars. 1. Which quantity is the independent variable? O average mid-career salary of graduates O annual tuition 2. According to this model, what is the average salary for a graduate of a college or university where the annual tuition is $30,000? 3. What is the slope of this regression model?
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