what is the point estimate of the annual income of the salesPerson with three year of college
what is the point estimate of the annual income of the salesPerson with three year of college
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Question
what is the point estimate of the annual income of the salesPerson with three year of college?
Transcribed Image Text:The following sample data contains the number of years of college and the current annual salary for a random sample of heavy equipment salespeople. A researcher believes that spending more years in college
leads to higher annual income.
Annual Income
Years in College
(In Thousands)
31.2
35.9
2
39.0
2
54.6
4
43.7
28.1
57.7
4
46.8
3
62.4
60.8
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
0.959
0.919
0.909
Standard Error
3.756
Observations
10.000
ANOVA
df
SS
Significance F
0.000
MS
F
Regression
1.000
1,285.245
1,285.245
91.105
Residual
8.000
112.858
14.107
Total
9.000
1,398.103
t Stat
P-value
Lower 95% Upper 95% Lower 95.0% Upper 95.0%
(1.591)
Coefficients itandard Erroi
(1.591)
9.613
1.923
0.091
17.581
17.581
Intercept
Years in College
7.995
4.157
12.675
1.328
9.545
0.000
9.613
15.737
15.737
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