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(a) What is the equation of the LSRL? (b) What is the predicted salary for an academic program that takes 30 semesters to complete? (c) Interpret the y-intercept of the regression line in the context of the problem.

(a) What is the equation of the LSRL? (b) What is the predicted salary for an academic program that takes 30 semesters to complete? (c) Interpret the y-intercept of the regression line in the context of the problem.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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A newspaper in Germany reported that the more semesters needed to complete an academic program at the university, the greater the starting salary in the first year of a job. The report was based on a study that used a random sample of 24 people who had recently completed an academic program. Information was collected on the number of semesters each person in the sample needed to compete the program and the starting salary, in thousands of euros, for the first year of a job. The data are shown in the following scatterplot along with the corresponding LSRL and MINITAB output. Predictor Constant Semesters S = 7.34 Coef 34.02 1.16 R-Sq = 33.5% Starting Salary (1,000 euros) 70- 65 60- SE Coef 25 4.46 R-Sq(adj) = 30.5% 0.35 15 10 Number of Semesters 20 T 7.64 3.33 P 0.000 0.003 (a) What is the equation of the LSRL? (b) What is the predicted salary for an academic program that takes 30 semesters to complete? (c) Interpret the y-intercept of the regression line in the context of the problem. (d) Interpret the correlation coefficient in the context of the problem.
Transcribed Image Text:A newspaper in Germany reported that the more semesters needed to complete an academic program at the university, the greater the starting salary in the first year of a job. The report was based on a study that used a random sample of 24 people who had recently completed an academic program. Information was collected on the number of semesters each person in the sample needed to compete the program and the starting salary, in thousands of euros, for the first year of a job. The data are shown in the following scatterplot along with the corresponding LSRL and MINITAB output. Predictor Constant Semesters S = 7.34 Coef 34.02 1.16 R-Sq = 33.5% Starting Salary (1,000 euros) 70- 65 60- SE Coef 25 4.46 R-Sq(adj) = 30.5% 0.35 15 10 Number of Semesters 20 T 7.64 3.33 P 0.000 0.003 (a) What is the equation of the LSRL? (b) What is the predicted salary for an academic program that takes 30 semesters to complete? (c) Interpret the y-intercept of the regression line in the context of the problem. (d) Interpret the correlation coefficient in the context of the problem.
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