. A social scientist would like to analyze the relationship between educational attainment and salary. He collects the following sample data, where Education refers to years of higher education and Salary is the individuals annual salary in thousands of dollars:
education salary
3 | 41 |
4 | 46 |
6 | 59 |
2 | 49 |
5 | 68 |
4 | 43 |
8 | 91 |
0 | 40 |
A. Find the sample regression equation for the model: Salary = ?0 + ?1Education + ?. (Round intermediate calculations to 4 decimal places. Enter your answers in thousands rounded to 2 decimal places.) b)Interpret the coefficient for education.
|
The statistical software output for this problem is:
Hence,
a) Regression equation:
Salary = 30.72 + 5.98 Education
b) For every one year increase in education, salary increases by $5980
c) Predicted salary = 72554
. A social scientist would like to analyze the relationship between educational attainment and salary. He...
A social scientist would like to analyze the relationship between educational attainment and salary. He collects the following sample data, where Education refers to years of higher education and Salary is the individual’s annual salary (in $1,000s): Education 3 4 6 2 5 4 8 0 Salary 40 53 80 42 70 50 110 38 Data is in the spreadsheet. Use the Regression tool in Data Analysis to find the sample regression equation for the model: Salary = β0 +...
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 Education 38 2 68 1 80 3 47 5 64 3 83 4 110 10 58 0 23 4 26 5 102 7 42 6 68 6 69 5 158 5 60 0 82 3 56 6 127 6 37 0 a. Find...
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 Education Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = Bo + Education: (Round answers to 2 decimal places.) Salary = O O Education b. Interpret the coefficient for Education As Education increases by...
Saved 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: 35 71 31 a. Find the sample regression equation for the model: Salary - po sEducation+ e. (Round answers to 2 decimal places.) SalaryEducation b. Interpret the coefficient for Education. OAs Education increases by 1 unit, an individual's annual salary is predicted to...
20. 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 Education 35 1 67 6 ⋮ ⋮ 32 0 a. Find the sample regression equation for the model: Salary = β0 + β1Education + ε. (Round answers to 2 decimal places.) Salaryˆ=Salary^= + Education b. Interpret the coefficient for Education. As Education...
A social scientist would like to analyze the relationship between educational attainment and salary. He collects the following sample data, where Education refers to years of higher education and Salary is the individual’s annual salary (in $1,000s): Education 3 4 6 2 5 4 8 0 Salary 40 53 80 42 70 50 110 38 Data is in the spreadsheet. Use the Regression tool in Data Analysis to find the regression output. Are Education and salary related at the .01...
Exercise 14-27 Algo 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 ts Salary 37 Education 6 69 eBook 29 Print I Click here for the Excel Data File References a. Find the sample regression equation for the model: Salary Ao AEducation . (Round answers to 2 decimal places.) Salary Education b. Interpret...
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