Calibri (Body) 11 A

Calibri (Body) v 11 < Back 12 2.5/10 points awarded Scored This window shows your responses and what was marked correct and incorrect 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 40 53 38 Education 3 4 Paste Open recovered workbooks? Your recent changes FIO c D Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = '30 + 1Education + E. (Round your answers to 2 decimal places.) Predicted Salary = 22,851.19 e + 9,380.95 Education b. Interpret the coefficient for Education. O As Education increases by 1 year, an individual's annual salary is predicted to increase by $8,590. O As Education increases by 1 year, an individual's annual salary is predicted to decrease by $8,590. As Education increases by 1 year, an individual's annual salary is predicted to increase by $10,850. O As Education increases by 1 year, an individual's annual salary is predicted to decrease by $10,850. c. What is the predicted salary (in $1,000s) for an individual who completed 7 years of higher education? (Do not round intermediate calculations. Round your final answer to nearest whole number.) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 Salary 40 53 80 42 70 50 110 38 42 55 85 40 70 60 140 40 75 65 125 38 Salary (in $1 ,ooos) 88,518.00 Education 3 4 6 2 5 4 8 3 4 6 2 5 4 8 5 4 8 Education