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It is believed that the average numbers of hours spent studying per day (HOURS) during undergraduate education should have a positive linear relationship with the

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It is believed that the average numbers of hours spent studying per day (HOURS) during undergraduate education should have a positive linear relationship with the starting salary (SALARY, measured in thousands of dollars per month) after graduation. Given below is the Microsoft Excel output for predicting starting salary (Y) using number of hours spent studying per day (X) for a sample of 51 students. NOTE: Only partial output is shown. Re . ression statistics Adjusted R Square Standard Error Observations ANOVA Significance F Regression 1 335. 0472 335.04 73 178. 3859 Residual 1. 8782 Total 50 42 7. 0798 Coefcients Standard t Stat p-value Lower 95% Upper Error 95% Intercept -1.8940 0.4018 4.7134 2. 051 E05 2. 7015 -1.0865 Hours 0.9795 0.0733 13.3561 5. 944E18 0.8321 1.1269 Note: 2.051E-05 = 2.051 * 10-0-5 and 5.944E-18 = 5.944 * 10-18. 1. The estimated average change in salary (in thousands of dollars) as a result of spending an extra hour per day studying is: (5 marks) A. 0.9795. B. 0.7845. C. 335.0473. D. 4.8940. 2. The error sum of squares (SSE) of the above regression is: (5 marks) A. 427.079804. B. 92.0325465. C. 1.878215. D. 335.047257

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