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

question 30

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 16 years of education?

• A)$40,000
• B)$42,000
• C)$45,000
• D)$47,000

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Definitions:

Inadequate Consideration

A situation in a contractual agreement where the value exchanged between parties is significantly disproportionate or deemed insufficient.

Fraud

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Contract

A legally binding agreement between two or more parties that is enforceable by law, characterized by an offer, acceptance, consideration, and mutual intent to be bound.

Objective Determination

A decision made based on unbiased evidence and facts, without influence from personal feelings or opinions.