Data on tuition and mid-career salary are collected from a number of universitie
ID: 3225787 • Letter: D
Question
Data on tuition and mid-career salary are collected from a number of universities and colleges. The result of the data collection is the linear regression model
ˆy=0.85x+157y^=-0.85x+157
where x=x=annual tuition and y=y=average mid-career salary of graduates, both in thousands of dollars.
1. Which quantity is the independent variable?
a) annual tuition
b) average mid-career salary of graduates
2. According to this model, what is the average mid-career salary for a graduate of a college or university where the annual tuition is $30,000?
3. What is the slope of this regression model?
Explanation / Answer
1)
annual tuition is the independent variable
2) y bar = -0.85x + 157
Here, x = 30000
y bar = -0.85 * 30000 +157
= -25343
3 ) the slope of this regression model is -0.85
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