Using the Regression Formula with a Slope = 2,000 and an Intercept

question 7

Multiple Choice

Using the regression formula with a slope = 2,000 and an intercept = 15,000,what would the predicted income be for someone who has 25 years of education?

• A)$40,000
• B)$42,000
• C)$45,000
• D)$65,000

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Definitions:

Probability

A measure of the likelihood or chance that a particular event will occur, often expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Deposition

A sworn, out-of-court testimony of a witness that is used for gathering information and evidence in legal proceedings.

Oath

A solemn promise, often invoking a divine witness, regarding one's future action or behavior.

CEO

Chief Executive Officer, the highest-ranking executive in a company, responsible for major corporate decisions.