Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please see attached excel file. I give positive rating if correct :) F8 X V fx A B C D E Salary Education 2 42
Please see attached excel file. I give positive rating if correct :)
F8 X V fx A B C D E Salary Education 2 42 6 W 48 7 4 82 1 5 46 3 67 1 54 5 8 105 6 9 42 0 10 38 4 11 56 6 12 90 2 13 44 7 14 67 5 15 64 7 16 143 12 17 43 0 18 76 7 19 64 4 20 127 6 21 42 0 22 23A 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: 1 Salary Education 42 6 43 7 4.2 a 3 points eBook Click here for the Excel Data File Print f a. Find the sample regression equation for the model: Salary = ,60 + lEducation + a. (Round answers to 2 decimal places.) Re erences Salary = + Education b. Interpret the coefficient for Education. 0 As Education increases by1 year, an individual's annual salary is predicted to increase by $8,590. 0 As Education increases by1 year, an individual's annual salary is predicted to decrease by $8,590. 0 As Education increases by1 year, an individual's annual salary is predicted to increase by $4,530. 0 As Education increases by1 year, an individual's annual salary is predicted to decrease by $4,530. c. What is the predicted salary for an individual who completed 8 years of higher education? (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) A Salary $Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started