Question 3: The relationship between the number of years of experience and salary for accountants in California is being studied. A sample of fourteen accountants were observed and the data recorded. The following scatterplot and regression analysis resulted: 90000 80000 n = 14 2 70000 ý = 58,111.29 + 2511.25x %3D

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ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
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Question 3: The relationship between the number of years of experience and salary (in dollars)
for accountants in California is being studied. A sample of fourteen accountants were observed
and the data recorded. The following scatterplot and regression analysis resulted:
90000
n = 14
80000
ý = 58,111.29 + 2511.25x
70000
60000
R2 = 0.9195
50000
40000
2
4
8
10
Years of Experience
a) Describe the form, direction, and strength of the relationship between years of experience
and salary. Identify a numerical value that supports your description.
b) Does the model provide a good fit to the data? Identify a numerical value that supports
your description.
c) Predict the salary for an accountant who has 7 years of experience. Are there any concerns
with your prediction?
d) Predict the salary for an accountant who has 12 years of experience. Are there any concerns
with your prediction?
F21 STAT 008 v1 AFlores
Transcribed Image Text:Question 3: The relationship between the number of years of experience and salary (in dollars) for accountants in California is being studied. A sample of fourteen accountants were observed and the data recorded. The following scatterplot and regression analysis resulted: 90000 n = 14 80000 ý = 58,111.29 + 2511.25x 70000 60000 R2 = 0.9195 50000 40000 2 4 8 10 Years of Experience a) Describe the form, direction, and strength of the relationship between years of experience and salary. Identify a numerical value that supports your description. b) Does the model provide a good fit to the data? Identify a numerical value that supports your description. c) Predict the salary for an accountant who has 7 years of experience. Are there any concerns with your prediction? d) Predict the salary for an accountant who has 12 years of experience. Are there any concerns with your prediction? F21 STAT 008 v1 AFlores
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