A social scientist would like to analyze the relationship between educational attainment (in years of higher education) and annual salary (in $1,000s). He collects data on 20 individuals. A portion of the data is as follows: Salary 34 Education 3 66 1 33 Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = Bo + B1Education + ɛ. (Round answers to 2 decimal places.) Salary Education b. Interpret the coefficient for Education. O As Education increases by 1 year, an individual's annual salary is predicted to increase by $4,690. O As Education increases by 1 year, an individual's annual salary is predicted to decrease by $8,590. O As Education increases by 1 year, an individual's annual salary is predicted to decrease by $4,690. O As Education increases by 1 year, an individual's annual salary is predicted to increase by $8,590. c. What is the predicted salary for an individual who completed 7 years of higher education? (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Salary

A social scientist would like to analyze the relationship between educational attainment (in years of higher education) and annual salary (in $1,000s). He collects data on 20 individuals. A portion of the data is as follows: Salary 34 Education 3 66 1 33 Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = Bo + B1Education + ɛ. (Round answers to 2 decimal places.) Salary Education b. Interpret the coefficient for Education. O As Education increases by 1 year, an individual's annual salary is predicted to increase by $4,690. O As Education increases by 1 year, an individual's annual salary is predicted to decrease by $8,590. O As Education increases by 1 year, an individual's annual salary is predicted to decrease by $4,690. O As Education increases by 1 year, an individual's annual salary is predicted to increase by $8,590. c. What is the predicted salary for an individual who completed 7 years of higher education? (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Salary

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 4GP

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