I need help with this statistics question... Company 1: standard deviation of X

Question

I need help with this statistics question...

Company 1: standard deviation of X after 5 years = 5.4
Median of X after 5 years = $41,800
Y hat = 34.3+ 3.3X, r = .686

Company 2: standard deviation of X after 5 years = 3.2
median of X after 5 years = 50.5
Y hat = 36.4 + 2.8X, r = .532

I have to find the starting salaries of both companies and theexpected mean salaries after 5 years for each company...

I am not sure where to plug in the numbers to answer thequestions... I know that X is the years employed by the companiesand is independent, and that Y is the salary....

I have been plugging in numbers, and it doesn't seem to beright....I would like to see how to do it....

thank you so much!

Explanation / Answer

Company 1 From what the way I interpreted it, year 1 (X = 1) is thestarting year so plug X = 1 into the equation to get Y hat = 34.3+3.3(1) = 37.6 ($1000) After 5 years, so at year 5 (the way I interpreted it),Yhat 34.3+ 3.3(5) =50.8 ($1000) Campany 2 Starting salary: Y hat = 36.4 + 2.8(1) = 39.2 ($1000) After 5 years: Y hat = 36.4 + 2.8(5) = 50.4 ($1000) Starting salary: Y hat = 36.4 + 2.8(1) = 39.2 ($1000) After 5 years: Y hat = 36.4 + 2.8(5) = 50.4 ($1000)

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.