The Following Estimated Regression Equation Was Developed Relating Yearly Income

question 56

Multiple Choice

The following estimated regression equation was developed relating yearly income (y in $1000s) of 30 individuals with their age (x₁) and their gender (x₂) (0 if male and 1 if female) . ​ = 30 + .7x₁ + 3x₂​
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Also provided are SST = 1200 and SSE = 384. The yearly income (in $) expected of a 24-year-old male individual is

• A) $16,800.
• B) $13,800.
• C) $46,800.
• D) $49,800.

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Definitions:

Marketspace Opportunity

Opportunities for conducting business and selling goods or services through digital or online platforms, as opposed to physical markets.

Customization

Customization is the process of modifying a product or service to meet the specific needs or preferences of an individual customer or a particular market segment.

Choice

The act of selecting between two or more alternatives.

Cross-channel Consumer

A consumer who interacts with multiple channels (e.g., online, in-store) before making a purchase decision, combining the advantages of each channel.