Y = Yearly Income (measured in thousands of dollars) X = 1 if someone has a bachelor's
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Question:
Y = Yearly Income (measured in thousands of dollars)
X = 1 if someone has a bachelor's degree or higher and 0 otherwise
You obtain the following regression equation from your analysis:
yhat = 31.6 + 14.3*x
where the value of 14.3 has a p-value of 0.01
What is the predicted value of Y for someone who has at least a bachelor's degree?
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