Question

Using the regression formula with a slope = 2,000 and an intercept = 15,000, what would the predicted income be for someone who has 16 years of education? a $40,000 b $42,000 c $45,000 d $47,000

Answer 1

Answer:

d = 47000

Step-by-step explanation:

The exercise is already giving the data we need to calculate this.

First, we have to use the linear regression formula which is:

y = a + bx

where:

a = intercept

b = slope

In this case we already have the slope and intercept, the value of x, will be the number of years reflected here, therefore, the predicted income would be:

y = 2000(16) + 15000

y = 32000 + 15000

y = 47,000