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A high school graduate makes a base salary of $100,000. The average time to complete college...

A high school graduate makes a base salary of $100,000. The average time to complete college is 4 years. Write the regression equation for the relationship between salary (Y) and years of college education (X) assuming that salary is insensitive to (unaffected by) years of college education.

Math   Statistics-And-Probability   
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Answer #1

Regression equation gives information about the relation between dependent and independent variables.

The general form of a regression equation is y = a*x + b

where a is the slope of the line and b is a constant.

Here x represents years of college education and y represents salary.

Given salary is unaffected by years of college education i.e y doesn't depend on x

Which implies the regression equation is y = b i.e a = 0

Also given that a high school graduate makes a base salary of $100,000

Which implies b = 100,000

Therefore the regression equation is y = 100000

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