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Question 1 1 pts Consider the following model for estimating the salary of employees at a company (in $) by the number of yea

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Answer #1

Based on regression output, we can write regression equation as:

Salary = 28394.2 + 1107.2*Years Employed

In this case, Years Employed = 4

Salary = 28394.2 + 1107.2*4 = 32823

Thus, Predicted Salary = 32823

Given, Observed Salary = 31280

Residual = Observed Salary - Predicted Salary

Residual = 31280 - 32823

Residual = -1543

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Question 1 1 pts Consider the following model for estimating the salary of employees at a company (in $) by the number of years employed at the company. technitron.1m-(salary- yrs.empl, data technitr...
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