Question

Data on tuition and mid-career salary are collected from a number of universities and colleges. The result of the data collection is the linear regression model :
ˆy= −0.91x+161y^= -0.91x+161
where x = annual tuition and y = average mid-career salary of graduates, both in thousands of dollars.
1. Which quantity is the independent variable?
O annual tuition
O average mid-career salary of graduates
2. According to this model, what is the average salary for a graduate of a college or university where the annual tuition is $30,000? $ _______
3. What is the slope of this regression model?

Answer 1

Answer:

1. annual tuition 2. $-27139 3. slope = -0.91

Step-by-step explanation:

1. An independent variable is the factor that is not determined by the model in this case the annual tuition variable (the linear regression model factor)

2. substitute $30,000 into the linear regressions equation gives:

y = -0.91(30000) + 161 = -27139

This value tells us that when the annual tuition is $30,000 the average mid-career salary of graduates is predicted to be -$27,139

3. the slope if the regression is represented by the coefficient of the factor in the linear regression model. In this case, as the factor is x or the annual tuition, and the coefficient of this variable in the given example is -0.91 which in turn is the slope of the model.