We estimate a simple regression explaining monthly salary (salary) in terms of IQ score (IQ), using data from a random sample of 935 individuals. We obtain the following estimated regression line: salary = 117 + 8.30 × IQ According to the estimation above, what is the average monthly salary of individuals with an IQ score of 115?
We estimate a simple regression explaining monthly salary (salary) in terms of IQ score (IQ), using data from a random sample of 935 individuals. We obtain the following estimated regression line: salary = 117 + 8.30 × IQ According to the estimation above, what is the average monthly salary of individuals with an IQ score of 115?
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter4: Estimating Demand
Section: Chapter Questions
Problem 4E
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![We estimate a simple regression explaining monthly salary (salary) in terms of IQ score
(IQ), using data from a random sample of 935 individuals. We obtain the following
estimated regression line:
salary
According to the estimation above, what is the average monthly salary of individuals with
an IQ score of 115?
=
117 + 8.30 × IQ](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1858a710-c111-4513-9004-6c10bf7d1d6e%2F836daf5a-1623-483e-b99d-ca6afeab7500%2F3mtrpff_processed.png&w=3840&q=75)
Transcribed Image Text:We estimate a simple regression explaining monthly salary (salary) in terms of IQ score
(IQ), using data from a random sample of 935 individuals. We obtain the following
estimated regression line:
salary
According to the estimation above, what is the average monthly salary of individuals with
an IQ score of 115?
=
117 + 8.30 × IQ
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