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The scatter plot shows the relationship between the number of years an employee has worked and the annual salary of that employee. 34000 29000 24000 19000 5 10 15 Years worked The slope of the line is Ex: 0.2 The intercept of the line is The regression equation is Y + X. Annual salary (in dollars)

The scatter plot shows the relationship between the number of years an employee has worked and the annual salary of that employee. 34000 29000 24000 19000 5 10 15 Years worked The slope of the line is Ex: 0.2 The intercept of the line is The regression equation is Y + X. Annual salary (in dollars)

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.CR: Chapter Review Exercises
Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...
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Interpreting regression parameter estimates The estimates for the population regression parameters, bo and b1 , can be interpreted as follows: bo represents the estimated simple linear regression Y-intercept, which is the fitted value of Y when X = 0. • bị represents the estimated simple linear regression slope, which is the change in the fitted value of Y per unit change in X. The Y-intercept, bo, has a practical meaning for datasets in which the predictor variable X can take on a value of 0 or values near 0. The measurement unit of bo is the same as the measurement unit of the response Y variable. The slope, b1, always has a practical meaning. The measurement unit of b, is the same as the measurement unit of Y per measurement unit of X.
Transcribed Image Text:Interpreting regression parameter estimates The estimates for the population regression parameters, bo and b1 , can be interpreted as follows: bo represents the estimated simple linear regression Y-intercept, which is the fitted value of Y when X = 0. • bị represents the estimated simple linear regression slope, which is the change in the fitted value of Y per unit change in X. The Y-intercept, bo, has a practical meaning for datasets in which the predictor variable X can take on a value of 0 or values near 0. The measurement unit of bo is the same as the measurement unit of the response Y variable. The slope, b1, always has a practical meaning. The measurement unit of b, is the same as the measurement unit of Y per measurement unit of X.
CHALLENGE 3.1.4: Linear regression equation for line of best fit. АCTIVITY Jump to level 1 The scatter plot shows the relationship between the number of years an employee has worked and the annual salary of that employee. 34000 3 29000 24000 19000 10 15 Years worked The slope of the line is Ex: 0.2 The intercept of the line is The regression equation is Y + X. 4 Check Next Feedback? Annual salary (in dollars) D- D D• D-
Transcribed Image Text:CHALLENGE 3.1.4: Linear regression equation for line of best fit. АCTIVITY Jump to level 1 The scatter plot shows the relationship between the number of years an employee has worked and the annual salary of that employee. 34000 3 29000 24000 19000 10 15 Years worked The slope of the line is Ex: 0.2 The intercept of the line is The regression equation is Y + X. 4 Check Next Feedback? Annual salary (in dollars) D- D D• D-
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