Question

Using simple linear regression analysis, the equation for a line through the data is estimated to be y = 1.9 + 0.55. For each of the x values, calculate the observed y. the predicted y and the residual. 4.3 For the following four regression equations, explain what the slope and intercept mean. a. wage = 2.05 + 1.32education, where wages dollars earned per hour and educa- b. GPA c, sleep 10.33-0.44work, where sleep is hours spent sleeping per night and d. savings 586 + 0.15salary, where savings is dollars saved in the bank and the tion is number of years the person went to school. study is the number of hours spent studying in a week. work is the number of hours worked per day. salary is the number of dollars earned in a year = 1.14 + (),23hours study, where GPA is measured in points and hours