Question
A social scientist would like to analyze the relationship between educational attainment (in years of higher...
A 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:
|
Salary |
Education |
|
35 |
4 |
|
71 |
1 |
|
84 |
3 |
|
52 |
3 |
|
70 |
7 |
|
80 |
5 |
|
107 |
9 |
|
55 |
0 |
|
23 |
4 |
|
33 |
6 |
|
102 |
6 |
|
40 |
4 |
|
67 |
2 |
|
68 |
5 |
|
163 |
9 |
|
55 |
0 |
|
83 |
8 |
|
56 |
3 |
|
125 |
11 |
|
31 |
0 |
What is the predicted salary for an individual who completed 6 years of higher education?
Homework Answers
Answer #1
Answer:
For the given data,
Therefore,
Regression equation is : Salary (Y) = 0.246 + 0.061 * Education
For x = 6, we get
Predicted Salary y = (0.246 + 0.061 * 6) * 1000 = 0.612 * 1000 = $ 612
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