The following regression model has been computed based on a sample of 70 observations of part-time workers. The regression equation that relates the number of hours worked (x) and the individual weekly income (y in 100 AED) is ŷ equals 35.4 plus 5.2 x What does the intercept mean in this context? Part-time workers who did not work at all are expected to earn a weekly income of 3540 AED. The intercept has no meaning. For every additional hour of work, the weekly income is expected to increase by 520 AED. Part-time workers who did not work at all are expected to earn a weekly income of 35.4 AED.
The following regression model has been computed based on a sample of 70 observations of part-time workers. The regression equation that relates the number of hours worked (x) and the individual weekly income (y in 100 AED) is ŷ equals 35.4 plus 5.2 x What does the intercept mean in this context? Part-time workers who did not work at all are expected to earn a weekly income of 3540 AED. The intercept has no meaning. For every additional hour of work, the weekly income is expected to increase by 520 AED. Part-time workers who did not work at all are expected to earn a weekly income of 35.4 AED.
Chapter4: Linear Functions
Section: Chapter Questions
Problem 38RE: For the following exercises, consider the data in Table 5, which shows the percent of unemployed in...
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The following regression model has been computed based on a sample of 70 observations of part-time workers. The regression equation that relates the number of hours worked (x) and the individual weekly income (y in 100 AED) is
ŷ equals 35.4 plus 5.2 x
What does the intercept mean in this context?
Part-time workers who did not work at all are expected to earn a weekly income of 3540 AED.
The intercept has no meaning.
For every additional hour of work, the weekly income is expected to increase by 520 AED.
Part-time workers who did not work at all are expected to earn a weekly income of 35.4 AED.
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