Suppose that you gather more data and use ordinary least squares (OLS) to estimate the linear regression equation. You obtain the following results.WAGE= -10.1 +4.2 EDUC₁According to this model, an additional year of education leads to an increase in salary of $per hour.

The question is about regression.Introduction :Suppose, is a least square regression…

Answered: Suppose that you gather more data and…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Using the regression to model annual income, a variable for years of education has a slope = 2000. This means that the model predicts each additional year of education will yield an extra 2,000 for the average person's salary, regardless of how many total years of education a person has. A. True B. False
Find the regression equation, letting the first variable be the predictor (x) variable. Using the listed lemon/crash data, where lemon imports are in metric tons and the fatality rates are per 100,000 people, find the best predicted crash fatality rate for a year in which there are 500 metric tons of lemon imports. Is the prediction worthwhile? Find the equation of the regression line. (Round the constant three decimal places as needed. Round the coefficient to six decimal places as needed.) The best predicted crash fatality rate for a year in which there are 500 metric tons of lemon imports is _______ fatalities per 100,000 population. (Round to one decimal place as needed.) Is the prediction worthwhile? A. Since the sample size is small, the prediction is not appropriate. B. Since common sense suggests there should not be much of a relationship between the two variables, the prediction does not make much sense. C. Since all of the requirements…
M3
The table below shows the average weekly wages (in dollars) for state government employees and federal government employees for 10 years. Construct and interpret a 99% prediction interval for the average weekly wages of federal government employees when the average weekly wages of state government employees is $925. The equation of the regression line is
Using the given equation for the regression line shown, determine the amount of time required to completely burn the candle. [2C] A Burning Candle 35.0 30.0 25.0 y = -0.2x + 30 20.0 15.0 10.0 5.0 0.0 20 40 60 80 100 Time (min) Height of Candle (cm)
Write down the two regression equation.
In simple linear regression, the coefficient of determination measures: a.The amount of variability of the y variable that is explained by the x variable b.The amount of variability of the x variable that is explained by the y variable c.The amount of variability between the treatments d.The amount of variability within the treatments
Use the time/tip data from the table below, which includes data from New York City taxi rides. (The distances are in miles, the times are in minutes, the fares are in dollars, and the tips are in dollars.) Find the regression equation, letting time be the predictor (x) variable. Find the best predicted tip for a ride that takes 20minutes. How does the result compare to the actual tip amount of $4.55? Distance 1.40 1.65 0.68 1.32 8.51 1.80 1.02 12.71 Time 18.00 11.00 6.00 8.00 31.00 25.00 8.00 27.00 Fare 12.30 9.80 6.30 7.80 31.75 16.30 7.80 36.80 Tip 2.46 1.96 1.89 0.00 2.98 1.50 2.34 0.00 The regression equation is y=enter your response here+enter your response herex. (Round the y-intercept to two decimal places as needed. Round the slope to four decimal places as needed.) The best predicted tip for a ride that takes 20 minutes is $enter your response here. (Round to the…
The table below shows the average weekly wages (in dollars) for state government employees and federal government employees for 10 years. Construct and interpret a 95% prediction interval for the average weekly wages of federal government employees when the average weekly wages of state government employees is $895. The equation of the regression line is y = 1.454x- 36.984. Wages (state), x Wages (federal), y 712 778 789 801 843 878 927 937 939 958 1,014 1,054 1,116 1,146 1,191 1,248 1,270 1,302 1,335 1,401 Construct and interpret a 95% prediction interval for the average weekly wages of federal government employees when the average weekly wages of state government employees is $895. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to the nearest cent as needed.) O A. We can be 95% confident that when the average weekly wages of state government employees is $895, the average weekly wages of federal government employees will be between $ and…

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Suppose that you gather more data and use ordinary least squares (OLS) to estimate the linear regression equation. You obtain the following results. WAGE;= -10.1 +4.2 EDUC, According to this model, an additional year of education leads to an increase in salary of $ per hour.