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If we wish to understand the relationship between years experience in a job and employee salary we might fit a regression model, y=b 0 +b

If we wish to understand the relationship between years experience in a job and employee salary we might fit a regression model, y=b0+b1x, in which y is salary (in thousands), x is years experience, b0 is the y-intercept (in other words, b0 is estimated salary when x=0, or it is starting salary when an employee has no accrued experience), and b1 is the amount we expect salaries to increase on average with each additional year of experience (ie annual raise). Suppose our b0 and b1 estimates are 30 and 2, respectively. 


Based on our model estimates, how much would we expect an employee to make, on average, in their 11th year of employment (ie x=11)? 

 

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