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An estimated linear regression of annual fuel expenditures y on annual income x is represented as the following equation: y equals 2 comma 200 plus
An estimated linear regression of annual fuel expenditures y on annual income x is represented as the following equation: y equals 2 comma 200 plus space.05 x . Jim was offered a new job that would increase his salary by $2,000. What would be his potential increase in fuel costs? Based on this information, is the assumption of increased fuel cost against annual salary meaningful? The increase in fuel cost is $100.00 annually; linearity assumption is justified. The increase in fuel cost is $100.00 annually; linearity assumption is not justified. The increase in fuel cost is $50.00 annually; linearity assumption is justified. The increase in fuel cost is $1000.00 annually; linearity assumption is not justified
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