Elementary Statistics Departmental Final Exam Part I (Form B) EmpliD d. The equa

Question

Elementary Statistics Departmental Final Exam Part I (Form B) EmpliD d. The equation of the Least Squares Regression (LSR) Line is y = 8.79 + 0.29x. Circle the correct choice and fill in the blank in the following statement: As a State College Attainment increases by 5 percent, the predicted State Median Hourly Wage (increases/decreases) by dollars. (2 points) e. Use LSR Line equation to find the best predicted Median Hourly Wage, in dollars, for a State where College Attainment is 23 percent (3 points)

Explanation / Answer

As the complete question is not available, I'm assuming

y = State median hourly wage

x = College attainment (in percentage)

y = 8.79 + 0.29x

d.

As a state college attainment increses by 5%, the predicted state median hourly wage (increases/ decreases) by 1.45 dollars

Explanation

When college attainment increases by 5%.

Suppose initial value is x, after increase value is x+5, The difference in y is given by

= (8.79 + 0.29(x+5)) - (8.79 + 0.29x) = 0.29*5 = 1.45

e.

The median hourly wage is 15.46 dollars in that state

Explanation:

The best predicted value of State median hourly wage is given by

y = 8.79 + 0.29x = 8.79 + 0.29*23 = 15.46

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

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