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Calculate the Y intercept ( a ) of the regression equation using the following information: Mean number of years of schooling: 17 Mean monthly income:

Calculate theYintercept (a) of the regression equation using the following information:

Mean number of years of schooling: 17

Mean monthly income: $2,750

Slope (b) of the regression equation: $650

Consider the following linear regression equation:Y= 12 + -1(X)

IfX= 7, what is the predicted value ofY?

Consider the following linear regression prediction equation:Y= 12 + -1(X)

If the predicted value ofYfor an observation is 5, calculate the residual for an observation where the observed valueYis equal to 9.

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