Question: Jay started working for the company earning $ 30,000. He currently earns $60,000. What is the residual for Jay (assuming no extrapolation error)?

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A researcher at a large company has collected data on the beginning salary and current salary of 48 randomly selected employees. The least-squares regression equation for predicting their current salary from their beginning salary is Y=-2500 + 2.1X. Where Y is the current salary and X is the beginning salary. 

 

Question: Jay started working for the company earning $ 30,000. He currently earns $60,000. What is the residual for Jay (assuming no extrapolation error)?

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