Chapter 23, Problem 1E

To determine

Write the regression model.

Explain the slope coefficient means in the context.

Answer to Problem 1E

The regression model is,

$\widehat{\text{Earn}}=14,468.1+27.262\left(\text{SAT}\right)$

The slope coefficient means in the context is the graduates earn approximately $27.26 per year more for each additional point in SAT score.

Explanation of Solution

Given info:

A output shows the regression model and associated plots.

Calculation:

The linear regression model is,

$\widehat{y}=b_0+b_{1}x$

Where, $\widehat{y}$ represents the predicted variable, x represents the predictor variable $b_0$ represents intercept and $b_1$ represents slope.

From the output, it can be observed that the predicted variable is Earn, predictor variable is SAT score, intercept is 14,468.1 and the slope is 27.262.

Thus, the linear regression model that predicts from SAT score is,

$\widehat{\text{Earn}}=14,468.1+27.262\left(\text{SAT}\right)$

Here, the slope coefficient means in the context is the graduates earn approximately $27.26 per year more for each additional point in SAT score.