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 43 52 32 Click here for the Excel Data File a. Find the sample regression equation for the model: Salary = Bo BIEducation + . (Round answers to 2 decimal places.) Salary = O+ Education b. Interpret the coefficient for Education. OAs Education increases by 1 year, an individual's annual salary is predicted to increase by $8,590. OAs Education increases by 1 year, an individual's annual salary is predicted to decrease by $8,590. OAs Education increases by 1 year, an individual's annual salary is predicted to increase by $6,080. OAs Education increases by 1 year, an individual's annual salary is predicted to decrease by $6,080. c. What is the predicted salary for an individual who completed 8 years of higher education? (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Salary
Family of Curves
A family of curves is a group of curves that are each described by a parametrization in which one or more variables are parameters. In general, the parameters have more complexity on the assembly of the curve than an ordinary linear transformation. These families appear commonly in the solution of differential equations. When a constant of integration is added, it is normally modified algebraically until it no longer replicates a plain linear transformation. The order of a differential equation depends on how many uncertain variables appear in the corresponding curve. The order of the differential equation acquired is two if two unknown variables exist in an equation belonging to this family.
XZ Plane
In order to understand XZ plane, it's helpful to understand two-dimensional and three-dimensional spaces. To plot a point on a plane, two numbers are needed, and these two numbers in the plane can be represented as an ordered pair (a,b) where a and b are real numbers and a is the horizontal coordinate and b is the vertical coordinate. This type of plane is called two-dimensional and it contains two perpendicular axes, the horizontal axis, and the vertical axis.
Euclidean Geometry
Geometry is the branch of mathematics that deals with flat surfaces like lines, angles, points, two-dimensional figures, etc. In Euclidean geometry, one studies the geometrical shapes that rely on different theorems and axioms. This (pure mathematics) geometry was introduced by the Greek mathematician Euclid, and that is why it is called Euclidean geometry. Euclid explained this in his book named 'elements'. Euclid's method in Euclidean geometry involves handling a small group of innately captivate axioms and incorporating many of these other propositions. The elements written by Euclid are the fundamentals for the study of geometry from a modern mathematical perspective. Elements comprise Euclidean theories, postulates, axioms, construction, and mathematical proofs of propositions.
Lines and Angles
In a two-dimensional plane, a line is simply a figure that joins two points. Usually, lines are used for presenting objects that are straight in shape and have minimal depth or width.
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Education
43
52
80
8
49
70
57
3
113
11
45
33
7
54
2
86
8
48
3
64
4
59
146
10
50
82
71
134
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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
B Click here for the Excel Data File
a. Find the sample regression equation for the model: Salary = Bo + B1Education + e.
(Round answers to 2 decimal places.)
Salary =O+ O Education
b. Interpret the coefficient for Education.
OAs Education increases by 1 year, an individual's annual salary is predicted to increase by
$8,590.
OAs Education increases by 1 year, an individual's annual salary is predicted to decrease by
$8,590.
OAs Education increases by 1 year, an individual's annual salary is predicted to increase by
$6,080.
OAs Education increases by 1 year, an individual's annual salary is predicted to decrease by
$6,080.
c. What is the predicted salary for an individual who completed 8 years of higher
education? (Round coefficient estimates to at least 4 decimal places and final
answer to the nearest whole number.)
Salary
References
Difficulty: 2 Medium
Learning Objective: 14-03 Estimate and interpret a simple
linear regression model.
Worksheet"
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